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BD spot prices in Asia may have peaked at an all-time high

July 19/2011

(ICIS)--Butadiene (BD) spot prices in Asia may have peaked at an all-time high of USD 4.300/tonne (EUR 3.053/tonne) as downstream synthetic rubber makers vow to resist a further increase in raw material values, industry sources said on Tuesday.

BD surged to USD 4.250-4.300/tonne CFR (cost & freight) NE (northeast) Asia on 15 July, the highest on record since ICIS started tracking its prices in 1990.

Prices have more than doubled since the start of the year because of extremely tight regional supply and an open arbitrage opportunity to sell to the US, market sources said.

Some suppliers plan to hike offers to USD 4.500/tonne FOB (free on board) Korea, to which Asian buyers are expected to pose a strong resistance by significantly cutting down on consumption.
Some of the producers in downstream synthetic rubber and acrylonitrile-butadiene-styrene (ABS) sectors in South Korea, Taiwan, China and Indonesia are planning to cut operating rates or shut down their plants for maintenance.

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