Asian Butadiene: Stable amid bearish sentiment, ample
supplies- Market under pressure amid weak demand, ample
supplies- Asia SBR-butadiene spread at $630-650/mtOn July 29, Asian butadiene was deemed
stable day-on-day. Asian
butadiene saw a drop of $30-50/mt from a week prior, while the CFR China
reached a four-month low at $1,200-1,240/mt. The week ended July 24th was a bearish week for Asian
butadiene. This was due to both bearish demand and more than enough supplies. Asia's demand for spot butadiene cargoes remained low as
downstream plant operations like ABS and synthetic rubber were affected by
negative margins. Chinese suppliers are
now trying to ship spot cargoes to Mexico. Although a discussion was held at $1,300-1,340/mt FOB China
Mexico, it has not been resolved. China's
local market continues to decline. According
to market sources, China's Sinopec reduced its local price by...