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BR prices in China may strengthen through September

August 04/2011

(ICIS) -- Butadiene rubber (BR) prices in China may strengthen through September, with a spate of major turnarounds at domestic facilities likely to shave third-quarter supply in the market by about 13%, industry sources on Thursday.

The estimated loss of supply was more than 20 KT, they said. In July, Chinas actual BR output stood at about 45.3 KT, 21% lower than the total production in June, according to data from Chemease, an ICIS service in China.

BR offers were at CNY35.500/tonne (USD 5.512/tonne) this week, market sources said. In the week ending 29 July, spot prices were assessed at CNY35.200-35.800/tonne, according to ICIS.
Before the spate of shutdowns in the third quarter, Chinas BR prices were hovering at CNY30.700/tonne-31.000/tonne, ICIS data showed.

A number of Chinese BR producers are due to conduct annual maintenance at their plants, while one producer shut down production in June for an indefinite period because of squeezed margins stemming from soaring prices of feedstock butadiene (BD), industry sources said.

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