Dips and turns in store for synthetic rubber markets
4 Feb 2024
Global SR market finds itself at a crossroads as we journey into 2024, writes Karan Chechi, founder & director at ChemAnalyst
This year could potentially see the synthetic rubber market embark on a path that leads to a sustained downward price trajectory amid a complex interplay between global economic factors, market dynamics, and industry-specific challenges.
One of the primary drivers steering this course is the global crude oil market: despite the ongoing production cuts by OPEC+, which are set to extend until March 2024, crude oil has been trading downwards with little sign of an imminent upturn.