ERJ staff report (BC)
Singapore – Asia’s spot butadiene (BD) prices may face strong downward pressure this month, with Chinese producers saddled with surplus stocks competing for buyers in the regional market, Helen Yan of ICIS reports industry sources as saying.
On 31 May, BD was assessed at $1,410-1,440/tonne (€1,072-1,094/tonne) CFR (cost and freight) northeast (NE) Asia, down by $40-60/tonne from the previous week, according to ICIS data.
“Chinese BD producers including Sinopec may have several thousand tonnes to export in June as the domestic market is oversupplied due to the poor downstream synthetic rubber market in China,” an industry source is reported as saying.
China has less use for BD as a number of domestic downstream styrene butadiene rubber (SBR) and butadiene rubber (BR) makers have curbed production because of poor demand, industry sources said.
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Full story from ICIS