Chinese domestic BR prices soar on strong natural rubber values

25 February 2010 03:31  [Source: ICIS news]

SINGAPORE (ICIS news)--Chinese domestic butadiene rubber (BR) prices jumped nearly yuan (CNY) 1,000/tonne ($146/tonne) this week, bolstered by strong crude and soaring natural rubber values, traders said.

Domestic BR prices surged to CNY 21,500-22,000/tonne ex-warehouse (EXWH) this week as crude topped $80/bbl (€59.2/bbl), while natural rubber surged to CNY 25,000/tonne, up CNY 2,000/tonne from week ending 12 February.

“Natural rubber futures have increased very strongly and this is driving up the synthetic rubber market,” a Chinese trader said.

Prior to the Lunar New Year holidays, domestic BR prices in China had stagnated at CNY 20,200-21,000/tonne EXWH.

China
was closed from 13-22 February for the Lunar New Year holidays.

($1 = CNY6.83 / $1 = €0.74)

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By: Helen Yan
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