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European butadiene market supply tightened this week. Expectations for a price increase in November contract prices have intensified, driven by rising naphtha costs, exchange rate volatility, and higher energy expenses. Spot inquiries in mid-to-late October were difficult to fulfill, with most non-contracted available volumes being diverted to exports. The tightness in spot supply has escalated, continuously drawing down European spot inventories, while the spread between domestic and export prices has narrowed. Upstream and downstream butadiene players in Europe are scheduled to initiate negotiations for November contract prices early next week. Supply risks associated with Rhine river shipping have further exacerbated, compounded by insufficient rail transshipment capacity. Additionally, declining operating rates at steam cracker units, coupled with disruptions in feedstock procurement and product transportation, have placed significant pressure on production across multiple suppliers. Meanwhile, robust export margins continue to provide support to the market.
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