15 August 2012 17:37 [Source: ICIS news]
HOUSTON (ICIS)--US styrene butadiene rubber (SBR) August contract prices have rolled over, following the lead of feedstock butadiene (BD), although feedstock styrene rose slightly, sources confirmed on Wednesday.
The rollover for the August contract puts the SBR non-oil grade 1502 contract price at 116-126 cents/lb ($2,557-$2,778/tonne, €2,071-2,249/tonne) and the oil-extended grade 1712 at 98-108 cents/lb.
The August BD contract price remained at 90 cents/lb, while the styrene contract price for July rose to 70.50-74.50 cents/lb, up 3.5 cents/lb. The styrene contract is settled after the month ends and typically follows the path of the benzene contract price.
Based on a formula to calculate SBR contract prices, producers faced a cost increase of 0.8 cent/lb to produce a pound of SBR, but market sources said producers opted to roll over prices rather than push for a minimal increase.
North American producers of SBR include American Synthetic Rubber Co (ASRC), Ashland, Firestone Polymers, Goodyear Tire & Rubber, LANXESS, Lion Copolymer and Negromex.
($1 = €0.81)
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