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Asian tyre makers to resist a USD300-500/tonne hike

January 19/2012

(ICIS) -- Major tyre makers in Asia, stricken with weak exports sales, are putting up a strong resistance to a USD300-500/tonne (EUR234-390/tonne) hike in butadiene rubber prices this week for February and March shipments, industry sources said on Thursday.

Asian tyre makers to resist a USD300-500/tonne hike
BR producers are offering USD3,600-3,800/tonne CFR (cost and freight) Asia - up by more than 10% from January levels citing a continued spike in the cost of feedstock butadiene (BD).
We are not happy with this situation because when the feedstock BD price fell to around USD1,500/tonne last November, the BR producers did not adjust their prices downwards, said an India-based tyre maker. Buying sentiment is weak and we will not accept a big price hike for February and March shipments, he added.


BD prices were assessed at USD3,050-3,100/tonne CFR northeast Asia in the week ended 13 January, nearly double their values two months ago, according to ICIS data.


BD is the raw material for the production of BR, which in turn, is used in the manufacture of tyres for automobiles.


But Asian tyre makers are coping with poor export sales amid a weakening global market condition, affecting China and India - the regions biggest emerging economies - that any significant increase in cost of production would not be welcome.


mrcplast.com

Author:Marina Ivanova
Tags:No
Category:General News
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