- CFR China drops to lowest level since January- Local China/CFR China Spread
widens to 3-month-high





Chinese market participants returned on May
4. The Asian butadiene markets remained
under pressure because of ample supplies from Southeast Asia. Spot
supplies are available from Malaysia, Indonesia and Singapore, as well as
India, for June arrivals, which dampened sentiment. Some sources
reported that there were at least four spot cargoes in Malaysia. Singapore
also had two cargoes. Southeast Asia cargoes usually move to Northeast
Asia during the plant turnaround period. The Asian butadiene markets were also
affected by falling crude oil futures. The July ICE
Brent Futures dropped $5.45/b from week to week, and were assessed at $73.36/b
on May 5. The price of local China butadiene also declined in line with
CFR China. The price of local China butadiene fell Yuan
200/mt from day to...