16 October 2013 18:45 [Source: ICIS news]
LONDON (ICIS)--European styrene butadiene rubber (SBR) spot 1500 prices have increased by €50/tonne ($67/tonne) due to rising butadiene (BD) feedstock costs, and to a lesser extent soaring Asian SBR prices, sources said this week.
BD prices have been rising because of limited local availability due to light feed cracking and maintenance turnarounds and strong supply-driven demand from Europe’s key outlet, Asia.
According to market players, spot 1500 grade prices were in the range of €1,350-1,450/tonne free delivered (FD) northwest Europe (NWE), while Russian-origin 1500 grade was offered at €1,250-1,300/tonne FD NWE. Asian prices for 1500 grade were heard at €1,450/tonne CIF NWE.
On 9 October, non-oil grade 1502 SBR prices were assessed at an average of $2,000/tonne (€1,480/tonne) CIF (cost, insurance and freight) China, up by about 10% from mid-September, according to ICIS data.
European spot prices for SBR 1723 and 1783 grades remain unchanged.
Asian SBR prices have risen by about 10% from mid-September also because of firm local BD prices.
One player suspected that European producers would reduce production because end-user demand - notably into the tyre industry - had not shown any improvement, adding “it’s hard to judge what volume is being sold…all prices are nominal".
($1 = €0.74)
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