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SunSirs: China SBR Market was Adjusted in Early November (November 1-10)

November 11 2020 13:10:05     SunSirs (Selena)

According to the data monitoring of SunSirs, the domestic SBR market in the first ten days of November (11.1-11.10) was adjusted back, with the price at 11,583.11 RMB/ ton at the beginning of the month, and 11,358.33 RMB/ ton as of November 10, down 1.94% as a whole.

As of November 10, the ex factory price of some domestic SBR petrochemical manufacturers has been reduced 200 RMB/ ton. As of November 10, the ex-factory price of Jilin Chemical styrene 1502 of PetroChina Northeast sales company has been reduced 200 yuan, to 11,300 RMB/ ton. Some traders offer downward, the overall market price slightly callback. During the period, the styrene butadiene rubber (SBR) plant started up normally. At present, Qilu, Jihua, Yangzi, Fushun, Yibang and other units are in normal operation; Bridgestone plant is shut down. The start-up of downstream tire market continued to rise slightly, and the start-up of all steel tire and semi steel tire remained above 70%, and there was rigid demand for rubber.

The price of butadiene and styrene remained high, especially the price of styrene rose sharply, and the support of cost to styrene butadiene remained unchanged. According to the monitoring of SunSirs, as of November 10, the price of butadiene was 9,185 RMB/ ton, slightly lower than 9,200 RMB/ ton at the beginning of the month; as of November 10, the price of styrene was at 8,033 RMB/ ton, 13.94% higher than 7,050 RMB/ ton at the beginning of the month.

On the whole, the upstream and downstream support of styrene butadiene rubber is still obvious. The price drop this time is more a correction and adjustment to the earlier rapid increase. There is no short-term strong short-term profit factor in the market, and the styrene butadiene rubber industrial chain is still in a strong stage.

Market forecast: SunSirs analysts believe that at present, the raw material prices continue to maintain a high level, which has certain support for styrene butadiene rubber. In addition, the support from the demand side is not reduced. However, the rapid rise of styrene butadiene in the early stage leads to the market's willingness to adjust. It is expected that China SBR market will fluctuate in a narrow range at a high level in the short term.

 

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