MOSCOW—Sibur achieved a 7.3 percent, year-on-year increase in volume sales of synthetic rubber in the first three months of 2016, parent PAO Sibur Holding has announced.
Sales through March 31 reached 113,033 tons, compared to 105,354 tons in the prior year first quarter, the Russian group said in a “limited operational update” issued June 21.
Revenue from synthetic rubbers: sales, meanwhile, rose 3.4 percent year-on-year to $149.3 million.
Sibur linked the sales gains to completed homologation with key clients for thermoplastic elastomers, which resulted in the respective sales volumes growth.
However, prices for commodity and speciality rubbers came under increased pressure due to higher market competition.
Sibur also reported improved average selling prices for thermoplastic elastomers, in line with a more positive supply/demand balance in that market.
More generally, the weakness of the Russian rouble “strongly supported our petrochemicals products sales,” the Russian group also stated.