SunSirs--China Commodity Data Group

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SunSirs: China BR Market Fell slightly Last Week

December 17 2020 11:14:00     SunSirs (Selena)

According to the data monitoring of SunSirs, China domestic BR market fell slightly last week (12.7-12.11), with the price at 11,670.00 RMB/ ton at the beginning of the week and 11,390.00 RMB/ ton at the weekend, down 2.40% as a whole.

Last week, the ex-factory price of domestic BR and petrochemical manufacturers was reduced 200 RMB/ ton. According to the monitoring of SunSirs, as of December 11, the ex-warehouse price of Daqing BR of Northeast PetroChina was 11,300 RMB/ ton; the price of Sinopec North China was stable, Qilu Shunding was quoted at 11,300 RMB/ ton, and the price of Huabei warehouse was increased; Yanshan BR was quoted at 11,220 RMB/ ton.

The supply side of BR market was basically stable. On one hand, the overall operating rate of BR in China increased slightly last week. According to SunSirs, the operating load of Yanshan Gaoshun BR returned to normal recently, while Wanda BR plant continued to shut down. On the other hand, the traffic in Northeast China gradually recovered after the snow, and the supply of BR in Daqing was normal.

Raw material prices fell last week, the cost of BR support weakened. As of December 11, the butadiene price was 9,490 RMB/ ton, down 3.71% from 9,856 RMB/ ton at the beginning of the week, according to SunSirs.

On the demand side, at present, the downstream tire operating rate continues to maintain above 70%, and the tire raw material storage period is around 20 days, which still has strong support for BR.

SunSirs analysts believe that at present, the price of raw material butadiene is falling, but the downstream demand has certain support, and it is expected that the BR price will fluctuate and consolidate in the short term in China.

 

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