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SunSirs: China BR Market is Weak and Down (August 2-9)
August 10 2022 10:15:02SunSirs(Selena)

From August 2 to 9, China BR market was weak. According to the monitoring of SunSirs, as of August 9, the domestic BR price was 12,930 RMB/ ton, down 6.24% from 13,790 RMB/ ton last Tuesday. The downstream demand is sluggish, the early maintenance equipment is gradually restarted, the supply side of BR is expected to increase, and the market is weak; The international crude oil price fluctuated, the butadiene price dropped significantly, and the cost was weak. The petrochemical sales company significantly reduced the ex factory price of BR. As of September 9, the ex factory price of Qilu cis-butadiene of Sinopec North China sales company was 12,600 RMB/ ton.

Since August, the butadiene market has fallen sharply, and the cost of BR has weakened significantly. According to the monitoring of SunSirs, as of August 9, the price of butadiene was 8,318 RMB/ ton, down 11.09% from 9,356 RMB/ ton at the beginning of the month.

The natural rubber market fluctuates and rises slightly, but the overall level is still low, and the support for BR is not strong. According to the monitoring of SunSirs, as of August 9, the price of natural rubber was 12,310 RMB/ ton, up 0.57% from 12,240 RMB/ ton at the beginning of the month.

The downstream tire starts at a low level, with the half steel tire starting at around 6.5% and the full steel tire starting at around 5.5%. The demand is weak in the face of rubber support, and the market transaction is slightly deadlocked.

Future forecast: SunSirs analysts believe that the international crude oil range fluctuates, the natural rubber price hovers at a low level, the pressure on the supply side increases, and the market transaction is deadlocked. It is expected that the price of BR will continue to be weak and low in China in the later period.

 

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