Styrene Butadiene Rubber (SBR) prices have risen above $4,000/tonne and are likely to remain firm in the second quarter because of tight supply, said an India based tyre producer.
In Japan, a number of SBR plants have shut operations or cut production in the wake of the massive 9.0 magnitude earthquake and tsunami that struck on 11th March 2011. The shortfall in SBR supply in Japan has prompted other Asian producers to step in to provide the material, shaving the volumes available for India and on the other hand to meet the shortfall in the Japanese market, Korean SBR producers have reduced their volume offers to India.
According an India based trader, SBR market is turning more bullish as there is no spot cargo from Europe because of the tight butadiene supply in Europe.
Read lot more in Rubber4U – 1st May 2011 issue
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