Moscow – Sibur has reported contraction of its elastomer’s business in the first quarter of 2018, compared to the same period last year.
Sales volumes for elastomers fell 4.6% to 124 kilotonnes for the three months to 31 March, the Russian petrochemicals supplier said 15 May.
Sales revenue for Sibur’s Plastics, Elastomers & Intermediates segment fell 4.9% to RR36.3 billion (€492 million), partly attributable to the decline in elastomer sales.
This, Sibur said, was a result of lower prices compared to the spiked level a year earlier.
As well as the reduced volumes, lower prices accounted for a further 10% drop in revenues, to leave sales about 14% down on last year’s first quarter.
“Lower elastomers selling prices and sales volumes compared to high base of 2017 reflecting higher Asian demand for commodity rubbers,” Sibur commented.