23 November 2011 23:07 [Source: ICIS news]
HOUSTON (ICIS)--Spot prices for US styrene butadiene rubber (SBR) were assessed on Wednesday to have fallen by 5 cents/lb ($110/tonne, €81/tonne) since 9 November because of reduced feedstock prices and weakened demand.
Non-oil grade 1502 was assessed by ICIS at 140-155 cents/lb FOB USG (free on board, US Gulf) and oil-extended grade 1712 was at 125-135 cents/lb.
As the year nears its end, demand has weakened for many chemicals as downstream users, such as automobile and tyre manufacturers, trim back production and companies try to destock inventories.
Styrene prices remained stable.
One market source said he had heard of two confirmed SBR sales in the 120-122 cents/lb range, possibly to Mexico.
The market source said these two sales were not indicative of the market, and were probably sold to be exported in order to maintain domestic prices.
US SBR producers include American Synthetic Rubber, Firestone, Goodyear, Ashland, LANXESS and Lion Copolymer.
($1 = €0.74)
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