- China’s Sinopec reduces local prices by Yuan 200-250/mt- June: Global natural rubber
production rises by 4%





According to market sources, Asian
butadiene was rated stable on July 26, but sentiment turned bearish because
China's Sinopec continued to reduce its local list prices, dropping Yuan 200-250/mt
from the day before to Yuan 9,700-9,800/mt today, or $1,247-1,280/mt if you
consider import parity. The September ICE Brent futures increased
by $4.30-5.50/barrel on July 26 and were assessed at $106.78-130.50/b. According
to market sources, Asia's steam cracker operations will remain below 100% over
the next few months due to negative margins for ethylene production. Spot
butadiene demand is expected to remain low as downstream plant operations,
notably synthetic rubber, will also decline due to the negative margins. According
to statistics news, June's global natural rubber production was...