EPDM Rubber Prices Continue to Plunge in Europe Amid Weak Demand Fundamentals
European markets have been observing consistent downtrend in Ethylene Propylene Diene Monomer (EPDM) rubber market dynamics owing to stagnant demand pattern from downstream industries. EPDM rubber market have deteriorated since the beginning of the quarter in lieu of strengthening supply fundamentals and rising inventory levels. EPDM rubber prices assessed on 2 nd week of February and were placed at USD 3750 per MT on FOB basis. Prices have declined by more than 9.3% since the conclusion of Q4 2021. Stagnancy in automotive industry continue to plague several upstream industries including tire industry. Global chip shortage has been persistent in the last few quarters and that has culminated in stagnant production levels worldwide. Consequently, demand of Original Equipment (OE) tires has also been severely and this in turn has resulted in stabilization in tire production levels. Tire industry has been heavily reliant on replacement tire consumption...