Akron, Ohio – Goodyear Tire & Rubber Co. has noted a “recent stabilisation” in its raw material costs following a sharp spike and then rapid retreat in prices over the last six months.
In a 14 June presentation to analysts, the Akron tire maker charted a 35% rise in natural rubber prices* between last December and mid-February - $0.80/lb to 1.05/lb.
This increase in NR spot prices, though, was completely wiped out by the end of March and continued to slump, almost down to $0.60/lb by early June.
Butadiene spot prices* followed an even more dramatic track: rising 109% to $1.20/lb during December and January before a steady decline took prices back to around $0.60/lb this May.
Goodyear’s figures indicated a fairly stable trend in butadiene prices since May, but less certainty around the direction-of-travel for NR prices.