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SunSirs: China NBR Market Went Up (February 18-22)

February 23 2021 10:08:24     SunSirs (Selena)

After the Spring Festival (2.18-2.22), the price of NBR went up. According to the monitoring of SunSirs, as of February 22, the price of NBR was 18,866.67 RMB/ ton, which was 3.28% higher than the price of 18,266.67 RMB/ ton on the last trading day before the festival.

The ex-factory price of NBR in China increased. According to the monitoring of SunSirs, as of February 22, the price of NBR of Lanzhou Petrochemical Company was higher than that before the festival: at present, the price of N41E was 16,400 RMB/ ton; 3305E was 17,500 RMB/ ton; 3308E was 17,800 RMB/ ton; the ex-factory price of NBR of Ningbo Shunze was stable, and the ex-factory price of NBR of 3355 was 16,500 RMB/ ton. At present, the ex-factory price of NBR is slightly higher than that in the earlier stage. Although the overall downstream construction has not been strongly restored after the festival, the higher crude oil price has stimulated the whole domestic chemical market, and the NBR offer has followed. At present, the mainstream offer of NBR N41E Market is around 16,200-17,000 RMB/ ton, and the offer of South Korea LG6250 market is around 18,000 RMB/ ton.

The price of raw materials rose sharply, and the cost was supported by nitrile. According to the monitoring of SunSirs, as of February 22, the butadiene price was 6,747 RMB/ ton, up 7.42% from 6,281 RMB/ ton on the last trading day before the festival.

In the near future, the operating rate of downstream rubber products of NBR has not recovered to the level before the festival, market inquiries have increased, the actual transaction is still light, and the support for NBR is insufficient.

SunSirs NBR analysts believe that raw material prices are rising, downstream demand needs to be restored, and China NBR offer may continue to rise tentatively in the short term.

 

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