SunSirs: Rubber, Market Price of BR in January was basically Stable (1.1-1.30)
February 05 2020 12:44:59 SunSirs (Selena)
1 Price Trend
In January, the BR market was basically stable. According to the monitoring of SunSirs, the price of BR was 11,275 RMB/ ton at the beginning of January and 11,350 RMB/ ton at the end of the month, which was 0.67% higher than that at the beginning of the month as a whole, and was in a stable state.
2 Market Trend Analysis
First of all, the price of raw material butadiene fell slightly in January, which was negative for BR. According to the monitoring of SunSirs, the price of butadiene was 8,312 RMB/ ton at the beginning of January and 8,056 RMB/ ton at the end of the month, down 3.08% from the beginning of the month.
Secondly, affected by the Spring Festival holiday in January, the pre-Festival stock up formed a certain support for the BR price, but the early maintenance devices returned to normal one after another, the supply side was sufficient, which formed a certain negative for BR. According to SunSirs, at present, Qilu, Yanshan, Maoming, Daqing, Dushanzi and other devices are in normal operation.
Finally, in January, most of the downstream tire factories shut down for holidays, the purchase volume decreased, and the market turnover was light.
3 Future Prospects
SunSirs analysts believe that on one hand, the price of raw material butadiene has fallen, and the current international crude oil price is at a low level, so it is difficult for raw materials to support BR market; on the other hand, with the notice of postponing the commencement of Construction issued by some provincial and municipal enterprises after the festival, the domestic rubber tire industry chain transaction will still be light, and it is expected that the price of BR will decline in a weak way in the later period.
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