03 March 2010 03:10 [Source: ICIS news]
SINGAPORE (ICIS news)--Spot offers for styrene butadiene rubber (SBR) in Asia have been revised up $100/tonne (€73/tonne) due to rising feedstock butadiene (BD) cost, producers said.
The revised offers for non-oil grade 1502 SBR will be pegged at $2,200-2,300/tonne CFR (cost and freight) Asia, up from previous offers at $2,100-2,200/tonne CFR Asia.
“We anticipate that the feedstock BD price will continue to increase and have factored the BD price hike into the revised SBR offers for March,” a SBR producer said.
SBR producers require a spread of about $400/tonne over BD cost to post any margins.
The feedstock BD rose $50/tonne to $1,800-1,850/tonne CFR Asia last week, according to global chemical markets intelligence service, ICIS pricing.
SBR producers are closely monitoring the feedstock BD cost which is expected to rise further if Korean BD producers ship cargoes out to the US, where BD prices have soared to around 90 cents/lb ($1,980/tonne).
($1 = €0.73)
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