21 May 2012 09:07 [Source: ICIS news]
SINGAPORE (ICIS)--Styrene butadiene rubber (SBR) prices in ?xml:namespace>
Non-oil SBR 1502 was assessed at CNY19,000-20,000/tonne EXWH (ex-warehouse) East China, while oil-extended SBR 1712 was at CNY15,900-16,000/tonne EXWH East China on 18 May, according to Chemease, an ICIS service in
Buyers have retreated to the sidelines, awaiting further decline in prices, before replenishing their stocks, market sources said.
Major SBR producers are expected to cut their offers to entice buyers.
On 14 May,
Meanwhile, falling feedstock prices are also exerting a downward pressure on SBR values.
Feedstock butadiene (BD) prices were at CNY17,700-18,000/tonne
Prices of another feedstock, styrene monomer (SM), also fell last week, in line with falling crude prices.
On 18 May, SM prices were assessed at CNY10,500/tonne (ex-tank Zhangjiagang, about CNY500-520/tonne lower compared with the previous week’s level, Chemease data showed.
($1 = CNY6.33)
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