23 October 2013 16:18 [Source: ICIS news]
LONDON (ICIS)--European styrene butadiene rubber (SBR) contract prices in November are expected to increase on the back of firm butadiene (BD) prices, sources said on Wednesday.
November BD contract prices are forecast to increase between €60-150/tonne ($82-205/tonne), largely due to good demand from Asia and tightening availability, European players said.
According to one market source, similar November BD contract price speculation was reported on the sidelines of K Fair 2013, Dusseldorf, Germany.
One tyre manufacturer said it could not predict November’s SBR contract price until the BD monthly contract price had settled, adding that the extent of the SBR price increases would depend on the producer.
One European SBR producer said there was a “good arbitrage window” with Asia and it could last well into November because Asian BD feedstock prices are too high and the market there is weak.
($1 = €0.73)
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