16 December 2005 02:57 [Source: ICIS news]
SINGAPORE (ICIS news)--Butadiene spot prices in China have fallen by Rmb500/tonne to Rmb9,500-10,000 tonne/year this week as local suppliers dropped prices to clear stocks ahead of the end of the financial year, producers and traders said on Friday.
Yangzi Petrochemical, one of the largest butadiene producers in China, reduced offers to Rmb9,500-10,000/tonne ex-works, in line with the recent sharp fall in import prices. The spot prices of import cargoes into China have fallen by about $150/tonne in the past month to $930-950/tonne CFR China.
Chinese buying interest has weakened due to the poor downstream styrene butadiene rubber (SBR) market. SBR domestic prices in China have fallen by more than Rmb1,000/tonne the past month to hover around Rmb12,500-12,900/tonne ex-works for the non-oil grade 1502.
Yangzi Petrochemical has two butadiene extraction units with a combined capacity of 100,000 tonne/year at its Nanjing, Jiangsu province, site.
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