SINGAPORE (Jan. 28, 2008) — World chemical price tracking company ICIS is reporting butadiene rubber spot offers in Asia rose to a record of $3,000 per metric ton for February shipments, driven by an upward spiral in butadiene feedstock prices.
This compares with contract prices of about $2,150 per metric ton in the first quarter, ICIS said.
The price hikes are being driven by soaring prices of butadiene monomer, which are going up by nearly $100 per metric ton every week, according to the supplier quoted by ICIS.