13 July 2011 06:26 [Source: ICIS news]
By Helen Yan
Non-oil grade 1502 SBR was assessed at $4,300-4,400/tonne (€3,053-3,124/tonne) CFR (cost and freight) southeast (SE)
SBR cargoes of Russian and South African origin, however, are available at lower prices of $4,200-4,250/tonne CFR SE Asia/India this week, market sources said.
“The availability of cheaper deep-sea Russian and South African cargoes is making it very tough for us to sell our material at $4,400/tonne CFR SE Asia as buyers are now asking for $4,200/tonne CFR SE Asia,” said an Asian SBR producer.
“But we cannot accept this price. Our buying idea is $4,000-4,100/tonne CFR India,” the SBR end-user added.
SBR is a raw material in the manufacture of tyres for the automotive sector.
The rubber market has turned generally bearish, with natural rubber prices also weak – just fluctuating in the $4,300-4,600/tonne range in the past month, market sources said.
With NR prices falling below $4,400/tonne, some traders offloaded their old SBR non-oil grade 1502 stocks at $4,300-4,350/tonne CFR (cost and freight)
NR and SBR are raw material substitutes that go into tyre production, with their market prices tending to move in tandem.
“Sentiment is getting bearish, with all the macro-economic factors and concerns on the euro-zone debt contagion and the
“We have covered our requirements until September and have no interest to procure any additional SBR 1502 spot cargo above $4,300/tonne CFR SE (southeast)
($1 = €0.71)
Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|