SEOUL, South Korea—Kumho Petrochemical has achieved a 16.4 percent year-on-year rise in third quarter sales to $483.4 million, the company said Nov. 2.
Profits for the three months to Sept. 30 declined, mainly due to slow pass-through of higher butadiene costs in product prices. According to Kumho Petrochemical, the period saw a sharp increase in the butadiene prices "due to troubles and regular maintenance in the region."
The situation then eased toward the end of the quarter, as a downward price trend took hold on weakening demand.
Citing ICIS and Platts data, the polymer maker said butadiene prices fell to $1,500 per metric ton in September in Asia, having peaked at $1,720 per ton the month before.
Prices were less volatile in Europe and North America, with a slight month-on-month increase registered in September of at almost $1,640 per ton.
In terms of synthetic rubber prices, SBR prices remained flat at nearly $1,660 per ton in September, down from $1,670 the month before. BR prices, however, stood at $2,100 per ton in September, reaching an 18 month high.