27 February 2013 16:44 [Source: ICIS news]
LONDON (ICIS)--European spot 1500 grade styrene butadiene rubber (SBR) prices have increased by €50/tonne ($65/tonne) to €1,700-1,750/tonne because of higher bids and offers and increasing feedstock costs, sources said on Wednesday.
The spot price of 1723 and 1783 grade SBR has been unchanged at €1,700-1,750/tonne FD (free delivered) NWE (northwest Europe)since 5 December 2012 because there have been no bids and offers as a result of thin trading. The price of 1723 and 1783 grades generally trade €100-150/tonne below the price of 1500 grade SBR.
Two traders said that trading has been subdued during the past few weeks as most derivative players remain on the sidelines amid poor derivative demand.
One of the traders said that for the first time in several weeks it has sold two containers of 1500 grade SBR to Portugal at €1,750/tonne cost and freight (CFR) Portugal. The other trader said it was offering 1500 grade SBR at €1,660-1,700/tonne FD Central Europe.
($1 = €0.77)
Follow Janos Gal on Twitter @janosgalICIS
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