05 June 2013 17:10 [Source: ICIS news]
LONDON (ICIS)--European June styrene butadiene rubber (SBR) contract prices are likely to drop by about €50-60/tonne ($66-79/tonne) because of lower feedstock butadiene (BD) costs and weak demand, sources said on Wednesday.
Although supply from Russia seem to have dropped significantly in the past week, this is unlikely to have a major impact on June spot or contract prices.
According to several sources, imports from Russia have dropped because Russian producers have now destocked and there is no additional surplus material which they can offer to Europe.
One buyer and one seller in southern Europe and a western European trader said they have received fewer Russian offers this week, adding that what they got was at a higher price, which the seller thought could drive European spot prices up.
The seller added that if a shutdown by Poland-headquartered Synthos is prolonged, that could have a short-term impact on availability, making the local market tight.
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