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BD spot prices in Asia may stage a rebound in December

November 16/2011

(ICIS) -- Butadiene (BD) spot prices in Asia may bottom out soon and stage a rebound in December because of tightening supply, as regional crackers cut production, industry sources said on Wednesday. BD values have tumbled by more than 60%, shedding $2,700/tonne (?1,998/tonne), from July to $1,550-1,600/tonne CFR (cost and freight) northeast (NE) Asia in the week ending 11 November, according to ICIS.

Major BD producers in the region, including South Koreas Yeochun NCC (YNCC) and Taiwans Formosa Petrochemical Corp (FPCC), have reduced the operating rates at their crackers to about 80% of capacities.

In South Korea, YNCC plans to run its 240,000 tonne/year BD plant at reduced rates of 70-80% for 10 days from 20 November. The plant is currently running at full capacity. In Taiwan, Formosa is maintaining the operating rates at its three crackers in Mailiao at 80% of capacity.

Perspectives of development of polymer markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit will be organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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