19 July 2012 04:06 [Source: ICIS news]
The sales tender will close on the evening of 19 July, the source said.
The result of the sales tender will indicate whether the recent BD price uptrend is sustainable, industry sources said.
In the past month, BD spot prices in Asia have surged by more than 30% or $600/tonne (€492/tonne) to $2,400-2,500/tonne CFR (cost and freight) northeast (NE)
BD spot prices were at $1,800-1,900/tonne CFR NE Asia in the week ended 15 June, ICIS data showed.
However, buying sentiment appears to have softened because of limited demand from the downstream synthetic rubber makers, industry sources said.
“Demand for synthetic rubber is poor and the global economy is not doing well. There is no support for higher BD prices,” a downstream synthetic rubber producer said.
Buy-sell indications for fresh August shipments of BD were at $2,200-2,500/tonne CFR NE Asia, according to the downstream synthetic rubber producer.
($1 = €0.82)
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