26 October 2012 06:40 [Source: ICIS news]
By Helen Yan
Availability of lower-priced material coming from eastern Europe will further weigh on Asian BR values into next month, they said.
Spot BR prices were assessed at an average of at $2,650/tonne (€2,041/tonne) CFR (cost and freight) NE (northeast)
“We lost out one contract for November and December delivery of BR to a European supplier who quoted much lower than our offers,” a northeast Asian BR producer said.
BR from east
Demand in Europe is slumping amid the ongoing eurozone debt crisis, prompting that region’s producers to export more to Asia, where demand, although soft, has not fallen as steeply as in
“Some European BR suppliers have been very aggressive in the Indian market and we have been getting very competitive offers from them. We expect BR prices to drop lower to around $2,500/tonne CFR India in November,” an Indian buyer said.
Falling prices of feedstock butadiene (BD) are also dragging down BR values.
“Demand for BR is flat and we have revised our BR offers down in line with the drop in the feedstock BD price,” a northeast Asian BR producer said.
BD prices were assessed at $1,840-1,860/tonne CFR NE Asia on 19 October, down by about $50/tonne from the previous week, according to ICIS.
“Bids for BR are at around $2,650/tonne CFR NE Asia or lower than this level as demand for BR is very weak in
Demand for BR is expected to remain weak in Asia as indicated by falling vehicle sales and cuts in production by automakers in
The country’s territorial dispute with
In September, Toyota Motor Cop saw a 48.9% year-on-year slump in car sales in
($1 = €0.77)
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