China's Q1 imports of butadiene soared by 162% to 136,239 mt against 52,081 mt in the corresponding three months of 2012, General Administration of Customs data released late Tuesday showed.
But the surge in China's imports has dampened regional spot prices as demand for synthetic rubber has weakened, resulting in rubber producers lowering their runs to cope with the demand.
To date, monthly average prices in the first three months of the year have lost half of their value year on year, Platts data showed.
The January monthly average FOB Korea price for butadiene was $1,758.75/mt, down 43% year on year, while February fell 47% to $2,007.50/mt and March dived 50% to $1,738/mt.
