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BR prices in Asia are likely to continue sliding down

November 04/2011

(ICIS) -- Butadiene rubber (BR) prices in Asia are likely to continue sliding down because of plunging values of feedstock butadiene (BD), industry sources said on Friday. In the week ended 3 November, spot BR prices were assessed at $3,100-3,200/tonne (?2,232-2,304/tonne) CFR (cost and freight) southeast (SE) Asia, down by about $800/tonne from early October, according to ICIS data.

УThe feedstock BD prices have plunged to around $1,700/tonne CFR NE Asia and are expected to fall further, so we expect BR prices to follow suit and drop below $2,700/tonne CFR NE Asia,Ф a tyre maker said.

On 28 October, average spot BD prices were assessed at $1,950/tonne CFR NE Asia, down by $800/tonne or about 30% from end-September, according to ICIS.

Traders or sellers with BR stocks-in-hand are under mounting pressure to clear their stocks before the end of the year, prompting some suppliers to cut their offers for fresh November shipments to $2,900-3,000/tonne CFR SE Asia, industry sources said.

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