13 June 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European styrene butadiene rubber (SBR) June contract prices have fallen by €200-350/tonne ($250-438/tonne) because of lower feedstock butadiene (BD) costs, long supply and weak demand, sources said on Wednesday.
The price of 1500 grade SBR settled at €2,350-2,400/tonne free delivered (FD) northwest Europe (NWE), down by €340-350/tonne. The 1723 grade SBR settled at €2,250-2,300/tonne FD NWE, down by €200/tonne, while the 1783 grade dropped by €200/tonne to €2,200-2,250/tonne FD NWE.
The price drop was mostly attributed to tumbling feedstock BD costs, which fell by €400/tonne in June to €1,850/tonne FD NWE.
Some SBR manufacturers, eager to sell as much as they can, have been rumoured to offer cargoes at even lower prices, but this was not a widespread trend.
($1 = €0.80)
Follow Janos Gal on twitter for tweets on the SBR market.
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