SunSirs: Styrene-butadiene Rubber Market Slightly Increased

　　1.Price Trend

　　According to SunSirs data monitoring, domestic styrene-butadiene rubber prices rose slightly (9.2-9.6), at the beginning of the week at RMB 10,700/ton, at the weekend at RMB 10,720/ton, the price rose slightly by 0.19%.

　　2.Cause analysis

　　Supply pressure is slightly reduced

　　Styrene-butadiene rubber supply pressure slightly reduced, to support the price of styrene-butadiene. This week, some enterprises shut down their styrene-butadiene units for a short time, providing support to styrene-butadiene rubber. According to business associations, Shenhua Chemical's 170,000 tons/year styrene-butadiene rubber plant will stop for overhaul on August 28. It is planned to stop for a short period of 10 days and start for September 8. Lanzhou Petrochemical's 150,000 tons/year styrene-butadiene rubber plant will stop for a short period of one week on September 3.

　　Raw material prices remain high

　　The price of butadiene, the raw material of styrene-butadiene rubber, remained high, and the price of styrene rose sharply, which provided strong support for styrene-butadiene rubber. According to the monitoring of business associations, the price of raw material butadiene remained high this week, with RMB 10443/ton at the beginning of the week and RMB 10358/ton at the end of the week, a slight decline of 0.81% as a whole. The price of raw material styrene rose sharply, starting at RMB 8716/ton at the beginning of the week and RMB 9216/ton at the end of the week. The overall price of raw material styrene rose sharply by 5.74%.

　　3.Future Market Forecast

　　SunSirs analysts believe that high prices of butadiene and styrene upstream raw materials have put upward pressure on the price of butadiene and styrene, but demand side is still weak. Later, the SBR market will be dominated by narrow-range shocks.

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