Chinese domestic SBR prices rebound on natural rubber surge

22 March 2011 07:07  [Source: ICIS news]

SINGAPORE (ICIS)--Chinese domestic styrene butadiene rubber (SBR) prices rebounded this week, lifted by soaring natural rubber prices, industry sources said on Tuesday.

Non-oil grade 1502 SBR domestic prices surged by yuan (CNY)1,000/tonne ($152/tonne) this week to CNY 25,500-25,700/tonne ex-warehouse (EXWH), tracking the gains in natural rubber prices.

Natural rubber (NR) futures for April delivery soared to yuan (CNY) 36,600/tonne this week at the Shanghai Futures Exchange, up by CNY3,000/tonne from the previous week.

“Traders and end-users are going into the SBR domestic spot market this week as they fear that the natural rubber prices may continue to rise and further bolster the SBR prices,” a Chinese trader said.

“Speculative demand has picked up which has been the main driver of the natural rubber price upsurge after NR futures plunged to around CNY 33,000/tonne last week in the aftermath of the earthquake which hit Japan on 11 March,” the trader added.

Additional reporting by Amber Liu

 ($1 = CNY6.56)

Please visit the complete ICIS plants and projects database
For more information on
SBR, visit ICIS chemical intelligence

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