02 April 2013 22:12 [Source: ICIS news]
HOUSTON (ICIS)--March contracts for both styrene butadiene rubber (SBR) 1502 and 1712 FOB US Gulf have settled on average up 6 cent/lb ($132/tonne, €103/tonne), market sources said Tuesday.
The February contract price range for SBR 1502 is $1.12-1.22/lb, while the contract price range for SBR 1712 is $0.95-1.05/lb. The February spot price range for 1502 is $1.12-$1.23/lb and the spot range for 1712 is $1.075-1.175/lb.
The March contracts, some of which are settled in early April and some of which are adjusted during the month, were higher on feedstock butadiene (BD), which rose 8 cents/lb in March and settled at rollover for April.
Market participants said they see April contract prices, which will be settled in early May, settling at rollover due to continued weakness in the tyre market.
“Demand for the industrial segment remains healthy, however, it is not enough to compensate for the loss in demand that we have seen from the tyre segment,” one source said. “We are expecting that as high driving season approaches [summer], we will start seeing a pickup in demand between May and June.”
($1 = €0.78)
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