09 May 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European styrene butadiene rubber (SBR) May contract prices have declined by €45-60/tonne ($58-78/tonne) because of weak demand and lower feedstock costs, sources said on Wednesday.
The 1500 grade SBR settled at €2,690-2,750/tonne free delivered (FD) northwest Europe (NWE), down by €45-60/tonne. The 1723 grade SBR settled at €2,450-2,500/tonne FD NWE, a drop of €45/tonne compared with April, while the 1783 grade SBR settled at €2,400-2,450/tonne FD NWE, down by €45/tonne.
Buyers said the feedstock butadiene (BD) settlement in May was disappointing as they expected much larger decreases. The slump in demand for SBR and weak sales are mostly attributed to high raw material costs. Most SBR buyers have now retreated to the sidelines awaiting further price cuts.($1 = €0.77)
Follow Janos Gal on Twitter for tweets on the SBR market
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