Domestic butadiene spot prices in the European market on Tuesday fell to their lowest levels since April 19, according to S&P Global Platts data.
Free delivered northwest Europe butadiene spot prices fell to Eur1,040/mt Tuesday, down Eur35/mt from Monday and from the European industry-settled November butadiene contract price of Eur1,075/mt FD NWE.
Butadiene prices in Europe have been under mounting pressure in recent weeks amid a drop in demand for European material in export markets and lower Asian prices.
Downward pressure from export markets pushed European spot export prices down to $850/mt FOB Rotterdam on Friday, their lowest level since November 30, according to Platts data.
However, domestic spot prices remain well above export prices as logistical difficulties created by low Rhine water levels have divided the European butadiene market, generating pockets of tightness.
Additionally, domestic demand within Europe remains healthy and production issues, including planned turnarounds, have helped in part to counteract the downward pressure generated by the global weakening of butadiene prices.
CFR China butadiene spot prices were assessed at $1,050/mt Wednesday, down from $1,350/mt on September 28.
