ERJ staff report (BC)
Singapore – China's Q1 imports of butadiene soared by 162 percent to 136,239 tonnes against 52,081 tonnes in the corresponding three months of 2012, General Administration of Customs data released on 23 April and reported by Clement Choo for Platts showed.
A dampening of regional spot prices is attributed to a surge in China's imports as demand for synthetic rubber has weakened, resulting in rubber producers lowering their runs to cope with the reduced demand.
To date, monthly average prices in the first three months of the year have lost half of their value year on year, Platts data showed.
The January monthly average FOB Korea price for butadiene was $1 758.75/tonne, down 43 percent year on year, while February fell 47 percent to $2 007.50/tonne and March dived 50 percent to $1 738/tonne.
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