The increase in Neoprene Rubber prices in Dec xxxx was largely attributable to an increase in butadiene prices. Butadiene increased x.xxx in the month of December in Japan and ended a general downward trend while also reflecting a temporary exporting cost increase. From the downstream market, The automotive industry has been instrumental in keeping Neoprene Rubber prices up. Initial reports from some of the largest manufacturers, including GM, Stellantis, Tesla and other companies indicate that total vehicle sales increased xx.xxx month-on-month in December. This was an increase of x.xxx from the year prior but still shows the immediate month-on-month increase in sales strengthened the demand for Neoprene Rubber, especially for automotive gaskets, hoses and vibration damping components. This increase in demand from the automotive industry coupled with continued limitations on inventory replenishment due to high production costs created additional upward pressure on Neoprene Rubber price increases.
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