16 January 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European styrene butadiene rubber (SBR) January contract prices dropped by €20-100/tonne ($27-133) due to poor demand and lower feedstock butadiene (BD) costs, sources said on Wednesday.
The 1500 grade January contract is at €1,900-1,950/tonne free delivered (FD) northwest Europe (NWE), while the price of 1723 and 1783 grades are at €1,800-1,850/tonne FD NWE.
SBR prices fell by more than the decline in feedstock costs because demand is poor and sellers wanted to stay competitive against imported material.
One producer said that prices are fluctuating and it is hard to pinpoint one price that would fit all customers in Europe. This is because many consumers import SBR from Russia and Asia, also because agreements between buyers and sellers can range widely.
($1 = €0.75)
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