The Asia-Pacific Styrene-Butadiene Rubber (SBR) market witnessed a significant dip in prices towards the beginning of May xxxx, with stable feedstock prices and soft downstream demand persisting to act as a dampener on market fundamentals. Despite initial indications of the revival of the automobile and tire sectors, the SBR market has weakened further, indicating subdued sentiment across the supply chain.
SBR, which is used mostly in tire production, is manufactured from butadiene and styrene. Both feedstocks have fallen and held their ground in the last few weeks, which originally offered cost support to SBR producers. But the lack of counterpart demand growth鈥攅specially from tire makers鈥攈as deflated any price uptrend. SBR prices in the Japanese market were observed at USD xxxx/MT FOB Tokyo.
Market sources report that prices for SBR have declined in major Asian markets, as buyers are...
