05 December 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European styrene butadiene rubber (SBR) December contract prices dropped by €50-80/tonne ($66-105/tonne) because of declining feedstock costs and low demand, sources said on Wednesday.
The price of 1500 grade is at €1,980-2,050/tonne free delivered (FD) northwest Europe (NWE), down by €50-70/tonne, while the 1723 grade is at €1,880-1,920/tonne FD NWE, down €70-80/tonne. December 1783 grade is at €1,830-1,870/tonne FD NWE, down €70-80/tonne.
This is the first time since February 2011 that 1500 grade SBR prices have fallen below €2,000/tonne.
Producers said that although prices are so low, this has hardly stimulated demand. One producer said prices are all over the place and buyers are bidding for lower and lower prices because they know that producers are keen to shift volumes.
($1 = €0.76)
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