The Asian butadiene markets weakened Feb. 19, as plummetingprices in the Chinese domestic markets weighed on discussions.Prices in the local markets plunged Yuan 500/mt day on day toYuan 11,500/mt, prompting several participants to retreat to thesidelines.Natural rubber and synthetic rubber futures fell day on day,adding to the bearish atmosphere.Discussion levels in the import CFR China markets fell intandem, with assessed levels down $20/mt day on day at $1,470/mt CFR China.Most participants retreated to the sidelines, citing volatilityand near-term uncertainty, resulting in limited firm bids and offers.Some sellers kept selling indications unchanged, given tighterregional supply on the back of ongoing turnarounds, but otherslowered indications amid the bearish sentiment.Buyers cited low buying urgency and sluggish downstreamdemand amid lowered operating rates.
Asian Butadiene Daily Rationale
The FOB China assessment dropped $30/mt from the...