China domestic SBR prices surge 6% post-Lunar New Year

24 February 2010 10:01  [Source: ICIS news]

SINGAPORE (ICIS news)--Chinese domestic styrene butadiene rubber (SBR) prices rose by about 6% this week, lifted by the rebound in values of crude and natural rubber futures, traders said on Wednesday.

Non-oil grade 1502 SBR jumped yuan (CNY) 1,000/tonne ($146.4/tonne) this week to CNY17,800-18,000/tonne ex-warehouse (EXWH) as crude topped $80/bbl early this week.

Natural rubber prices, meanwhile, surged CNY2,000/tonne from the week ending 12 February to CNY25,000/tonne currently, traders said.

The Chinese market was closed the whole of last week for the Lunar New Year celebrations.

The price spike in the domestic Chinese market has spurred SBR producers to hike offers for non-oil grade 1502 imports to $2,200/tonne CIF (cost, freight and insurance) China for March shipments, up $100/tonne from previous offers, market players said.

For more on styrene butadiene rubber visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect


By: Helen Yan
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly