01 December 2005 07:31 [Source: ICIS news]
SINGAPORE (ICIS news)--Styrene butadiene rubber (SBR) prices dipped below $1,400/tonne CFR China this week, down about $30-50/tonne from a month ago due to high domestic inventories and cheaper imports from Russia and Iran, producers said on Thursday.
Prices for the non-oil grade 1502 fell to around $1,350-1,400/tonne CFR China this week, they added.
More than 3,000 tonne of SBR from Russia and Iran has been entering the Chinese market every month, putting pressure on imports from other Asian countries.
Last week’s fall in domestic SBR prices in China also added to the downward price pressure on imports. Prices in China tumbled by Rmb300-400/tonne ex-works last week on slackened demand and a sharp fall in feedstock butadiene prices. Butadiene prices have fallen by more than $150/tonne in the past month to around $1,000/tonne CFR Northeast Asia for December shipments.
SBR domestic prices for the non-oil grade 1502 fell by Rmb300-400/tonne to Rmb13,700-13,900/tonne ex-works last week. Similarly, prices for the oil-extended grade 1712 also fell by about Rmb300-400 to RMB 11,600-11,900/tonne ex-works the previous week.
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