25 November 2010 03:15 [Source: ICIS news]
SINGAPORE (ICIS)--Chinese domestic butadiene rubber (BR) prices softened by yuan (CNY) 200/tonne ($30/tonne) this week, tracking declines in natural rubber values, amid easing of supply tightness, industry sources said on Thursday.
BR prices are currently at CNY28,900-29,300/tonne ex-warehouse (EXWH), they said.
“Chinese buyers are taking a cautious stance and adopting a wait-and-see stance, given the fluctuations in natural rubber futures and eas[ing] BR supply,” a Chinese trader said.
Tight supply drove up BR prices up by more than CNY3,000/tonne from mid-October, when prices were hovering at around CNY25,000-26,000/tonne EXWH, according to ICIS data.
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Meanwhile, natural rubber futures had fallen by more than CNY 1,500/tonne since last week to around CNY31,300/tonne at the Shanghai Futures Exchange.
BR and natural rubber are used as raw materials in tyre production.
($1 = CNY6.66)
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