29 November 2011 05:01 [Source: ICIS news]
By Sunny Pan
Non-oil grade 1502 SBR prices fell by yuan (CNY) 400-700/tonne ($63-110/tonne) on 28 November to CNY21,500-22,000/tonne EXWH (ex-warehouse) east
Prices retreated after rising by more than CNY3,400/tonne or 17.9% from 11 November, the data showed.
The strong gains in recent weeks were propelled by traders’ restocking activity, as well as the spikes in values of feedstock butadiene (BD).
“The SBR price rebound has fizzled out as demand from the downstream tyre makers is not strong enough to support its rebound,” an industry source said.
An influx of imported material into
“There are plenty of SBR imports arriving in
Volumes of imported cargoes coming into China this month are higher compared with October, with some heard settled at CNY19,500-21,000/tonne for non-oil grade 1502 SBR, which is 7.4% lower than the current domestic prices, market sources said.
Additional reporting by Helen Yan
($1 = CNY6.39)
Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
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