ExxonMobil has nominated its September US butadiene contract price down 6 cents ($132/mt) to 90 cents/lb ($1,984/mt), sources said Tuesday.
The company could not be reached immediately to confirm the reports.
Sources said they expected September butadiene contract prices would be lower than August, with one trader saying contract prices could fall into the lower 80 cents/lb on continued demand weakness. Supply was characterized as available and inventories as ample, sources said.
Spot butadiene was last assessed at 84 cents/lb ($1,852/mt) CIF US Gulf Coast Friday and heard in the mid 80 cents/lb Tuesday.
The other three producers -- TPC Group, Shell Chemical and LyondellBasell -- have yet to nominate September contract prices, the sources said.
The August US butadiene contract price settled flat from July at a 90-96 cents/lb ($1,984-$2,116/mt) FOB USG split settlement, with TPC Group, LyondellBasell and Shell Chemical at 90 cents and ExxonMobil at 96 cents, sources said.
Producer confirmation for the August US butadiene contract price was unavailable.
