17 May 2012 18:36 [Source: ICIS news]
Non-oil grade SBR 1502 May contract prices are 158-166 cents/lb ($3,483-3660/tonne, €2,752-2,891/tonne), down from April’s contract prices of 161-168 cents/lb. Oil-extended grade SBR 1712 May contract prices are 139-141 cents/lb, down from the April contract prices of 140-151 cents/lb.
Buyers were relieved by the lower contract prices.
Market sources said spot prices for SBR 1502 are 162-172 cents/lb, up by an average of 7.7% from last week, while spot prices for SBR 1712 are flat. The upward movement for SBR 1502 was attributed to continued strength in demand, sources said.
However, sources also said the spot market is poised for a weakening of demand as buyers hold back purchases to as-needed buys in hopes that the prices will decline.
The latest contracts for feedstocks BD and styrene each settled down. Most May BD contract prices were down by 4.9%, while the April styrene contract prices dipped by 1.3%. Spot prices for BD are now lower than contract prices.
The May BD contract prices were settled at 145-147 cents/lb, while the spot prices were last posted as 120-130 cents/lb.
SBR producers in North America include American Synthetic Rubber Co (ASRC), Ashland, Firestone, Goodyear Tire & Rubber, LANXESS, Lion Copolymer and Negromex.($1 = €0.79)
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