06 June 2012 23:38 [Source: ICIS news]
HOUSTON (ICIS)--Spot prices for styrene butadiene rubber (SBR) in the Americas decreased by an average of 7.9% for non-oil grade 1502 and by an average of 5.1% for oil extended 1712, sources said on Wednesday.
Spot prices for 1502 moved to 135-145 cents/lb ($2,976-3,197/tonne, €2,381-2,557/tonne) from 141-163 cents/lb and 1712 prices moved to 130-132 cents/lb from 133-143 cents/lb.
The decrease in spot prices from last week is a result of decreased demand, imported material becoming available and falling feedstock costs.
Market sources are expecting the June contract settlement for feedstock butadiene (BD) to have a large impact on the SBR contract price. The June BD contract price came in at 107 cents/lb. The May styrene contract has not settled. The April styrene contract came in at 70-74 cents/lb.
More than one source described the market as quiet.
Some sources have already begun to see decreases in demand from those customers who export to Europe’s industrial segment.
Several buyers believe prices are going down and are waiting to see just low those prices can go.
Some other market sources are hearing mixed messages on what is taking place regarding demand and how it may be moved by the price of BD moving into the third quarter.
($1 = €0.80)
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