Hamburg, Germany: Throughout the year xxxx, weak offtakes from downstream automotive industries have dominated market sentiments, taking a toll on the market fundamentals of Nitrile Butadiene Rubber (NBR). In xxxx, EU countries faced significant challenges, including high inflation, rising interest rates, an economic slowdown, and elevated gas and electricity prices due to the energy crisis resulting from the Russia-Ukraine war. Inflation rates in both the EU and the eurozone have consistently exceeded the European Central Bank&#xx;s (ECB) medium-term target of xx, reaching xxx in the EU and x.xx in the eurozone in January. While the inflation rate in the eurozone has gradually decreased over the year, the measures taken have led to economic stagnation and a significant decline in demand for raw materials, including NBR in Europe.
The ChemAnalyst database has shown that the prices of NBR have demonstrated a significant decrement on...
