SINGAPORE (ICIS)--Spot styrene butadiene rubber (SBR) prices in Asia are likely to remain stable in the near term as trade slows down amid the ongoing World Cup football tournament in Brazil, market players said on Thursday.
On 18 June, non-oil grade 1502 SBR prices were unchanged from the previous week at $1,900-1,950/tonne CFR (cost and freight) southeast (SE) Asia, ICIS data showed.
"We do not expect much trading activities in the coming weeks as most of the players have earlier settled their June shipments and are not ready to start negotiations for July shipments with the World Cup now on,” a northeast Asian SBR producer said.
Asia is represented by Japan and South Korea in the World Cup but other countries in Asia, including China, southeast Asia are avid followers of the game.
There is an 11-hour time difference between Asia and Brazil, which means most of the matches are telecast live between midnight and 06:00 hours in Asia (23:00 GMT).
The month-long World Cup ends on 13 July.