SunSirs: Weak Demand for Raw Material, Styrene Butadiene Rubber Continued to Decline (Feb.17-21)
February 27 2020 10:03:05 SunSirs (Daisy)
Last week (Feb.17-21), the domestic styrene butadiene rubber market weakened, with the price at the beginning of the week at 10660 RMB /ton and the price at the end of the week at 10000 RMB/ton, down 6.19% overall, according to SunSirs.
Petrochemical ex-factory price stable
Last week (Feb.17-21) the ex-factory price of domestic styrene butadiene rubber petrochemical factory declined. As of February 21, Sinopec north China sales company Qilu 1502 reported 9600 RMB/ton, Qilu 1712 reported 8500 RMB/ton, ex-factory price in north China.
As the price of raw materials decreases, the cost support strength weakens.
The price of butadiene is low, and the support of p-styrene butadiene rubber weakens. The price of butadiene at the beginning of the week was 6,626 RMB/ton, while the price of butadiene at the end of the week was 6,393 RMB/ton, down slightly by 3.52%.
Styrene fell after a small rebound, but the price is still low. The price at the beginning of the week at 6566 RMB/ton, the price at the end of the week at 6633 RMB/ton, the overall slightly up 1.02%, but the price is still low.
Affected by the epidemic prevention and control, the downstream tire, hose, products enterprises resume work has not significantly recovered. The industry as a whole operating rate is not high. Therefore, the demand aspect has a bearish impact on SBR market.
Market Forecasting: SunSirs analysts believe that at present, raw material prices are low. On the other hand, the downstream demand has not recovered significantly. It is expected to be difficult to change the weak situation of butadiene in the short term.
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