04 December 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European styrene butadiene rubber (SBR) December contract prices have softened by €10-30/tonne ($14-41/tonne) on the back of an illiquid market, despite main feedstock butadiene (BD) rolling over, market sources said on Wednesday.
SBR contract prices have fallen in December because of seasonally weaker demand, despite BD, the main feedstock, rolling over at €900/tonne free delivered (FD) northwest Europe (NWE). Styrene prices also increased by €10/tonne at €1,375/tonne free on board (FOB) Barge Amsterdam Rotterdam and Antwerp (ARA).
According to market players, 1500 and 1723 grades softened by €20/tonne and €10/tonne on both the low and high ends respectively. SBR 1500 grade was assessed at €1,450-1,520/tonne FD NWE, while SBR 1723 grade was assessed at €1,340-1,390/tonne FD NWE. Meanwhile, SBR 1783 was assessed at €1,300-1,350/tonne FD NWE, down by €10/tonne on the low end and down by €30/tonne on the high end.
One source said, “the market was very quiet” with buyers focused on reducing stocks. A second source said it had fewer orders for December compared to the same month in 2012. Meanwhile, a third source added that only non-tyre buyers were in the market to purchase SBR.
($1 = €0.74)
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