European styrene butadiene rubber prices have continued to increase with rising feedstock costs and strong demand, according to market sources.

The E-SBR 1502 and 1502 spot prices were assessed at Eur1,450/mt (about $1,792/mt), up Eur20/mt on the week, and up from Eur1,335/mt on February 23.

Bullish butadiene prices have supported the price rise. The April butadiene contract price was settled at Eur950/mt, up Eur75/mt this week, following a Eur75/mt rise in March.

“SBR prices have increased on the back of continued good demand,” a source said this week.

Nevertheless, the market was heard as “balanced” rather than tight as the industry saw mixed moves in exports.

“SBR producers are indicating that they have ongoing opportunities to export spot quantities to Asia which is also helping firm pricing in the European market,” the first source said.

But a second source said exports were struggling: “[A European producer is] still struggling to export to Asia and North America and tends to place more volumes in the [European] market.”

Imports, however, were heard limited, which helped to balance out slower exports.

Europe is a net exporter of SBR.