11 July 2012 23:53 [Source: ICIS news]
HOUSTON (ICIS)--North American styrene butadiene rubber (SBR) spot prices have fallen by at least 8.5% since last week on weakening demand and decreasing feedstock costs, market sources said on Wednesday.
Spot prices for non-oil grade 1502 SBR are now 108-119 cents/lb, after falling from last week’s spot price range of 120-130 cents/lb. Oil-enhanced grade 1712 SBR spot prices have moved to 104-114 cents/lb from 115-125 cents/lb.
There was some indication that the prices began falling in the second half of June, but they were within the posted spot price range on ICIS.
Producers said demand for July seems to remain steady to slightly down compared to the demand in June.
Producers also say they are doing all they can to hold firm on pricing, although with demand slightly down and the cost of feedstocks down, it has been be difficult.
SBR contract prices for July could fall by 10% or more, should the initial styrene contract settlements gain traction with other contract participants.
The initial June styrene contract settlements are down 2-3.5 cents/lb from the May contract prices.
North American SBR producers include American Synthetic Rubber Co (ASRC), Ashland, Firestone Polymers, Goodyear Tire & Rubber, LANXESS, Lion Copolymer and Negromex.
($1 = €0.82)
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