07 May 2009 05:28 [Source: ICIS news]
SINGAPORE (ICIS news)--China styrene butadiene rubber (SBR) extended its falls this week as players anticipate more supply to be injected into the market late this month, when Qilu Petrochemical’s new plant starts production, traders said on Monday.
The company's 100,000 tonne/year plant located at ?xml:namespace>
Domestic non-oil grade 1502 SBR values in
There was ample supply of imported SBR cargoes while expectations of more domestic supply weighed on buying sentiment, traders said.
“For now, everyone is watching the market and waiting for a clearer picture before they decide to commit,” a Chinese trader said.
SBR prices in
Qilu Petrochemical, which is a subsidiary of state-owned refiner Sinopec, also has a 150,000 tonne/year SBR and a 50,000 tonne/year butadiene rubber (SBR) plant in Zibo.
($1 = CNY6.82)
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