30 May 2012 21:59 [Source: ICIS news]
HOUSTON (ICIS)--US styrene butadiene rubber (SBR) spot prices decreased because of falling costs for feedstock butadiene (BD), market sources confirmed on Wednesday.
Spot prices are down by an average of 12.9% from last week for non-oil grade SBR 1502, and down by 8.0% for oil-enhanced SBR 1712.
Non-oil grade SBR 1502 spot prices are now 141-163 cents/lb ($3,108-3,593/tonne, €2,486-2,875), down from 171-178 cents/lb, while oil-enhanced SBR 1712 spot prices are now 133-143 cents/lb, down from 145-155 cents/lb.
Spot prices for BD, the predominant chemical used in the manufacture of SBR, have been falling throughout the month of May and the nominations for the June contract price have come in at decreases as well.
Some SBR producers said there is softening in prices now, although they project it to be short-lived.
Buyers are holding out to see how low feedstock costs will go, and for how long, before they commit to purchases greater than their immediate needs.
North American producers of SBR include American Synthetic Rubber Co (ASRC), Ashland, Firestone Polymers, Goodyear Tire & Rubber, LANXESS, Lion Copolymer and Negromex.
($1 = €0.80)
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