08 January 2014 15:23 [Source: ICIS news]
LONDON (ICIS)--The European styrene butadiene rubber (SBR) market has remained as flat as it did in the run up to the Christmas period while contract prices (CP) for January are yet to be agreed, source said on Wednesday.
January butadiene (BD) and styrene contract prices both firmed by €10/tonne and €35/tonne respectively. However, two tyre producers forecast that SBR January contract price are likely to roll over due to weak market conditions
One producer said “minor feedstock increases do not allow SBR prices to go up,” adding that it was too early to settle contract prices this week due to market players still returning from their Christmas breaks.
Some sources expressed caution in forecasting 2014 as market conditions remained uncertain, adding first-quarter performance could be a good indicator for the year ahead.
With trade body European Automobile Manufacturer’s Association (ACEA) figures detailing a rise in European passenger vehicle sales in October and November , sound bites of optimism were heard from market sources as small signs of a recovery. However, results for December have not yet been published.
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