Houston — US Gulf Coast spot butadiene prices slumped to new lows Friday on demand destruction amid the coronavirus pandemic, sources said.
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Spot butadiene was assessed at 9 cents/lb CIF USG, down 4.75 cents week on week to the lowest level since December 4, 1986, when it was assessed at 8.25 cents/lb, according to S&P Global Platts data.
The drop marked the first fall after three weeks of stable pricing.
The assessment has shed 37 cents, falling more than 80% since January 31, the year-to-date high of 46 cents/lb.
These prices are necessary to make exports work, one source said.