SunSirs: China SBR MarketContinued to Decline Last Week (May 31-June 4)

According to the data monitoring of SunSirs, the domestic SBR market fell last week (5.31-6.04). The price was 12,708 RMB/ ton at the beginning of the week, and fell to 12,283 RMB/ ton at the end of the week, with an overall decline of 3.34%.

Last week, the domestic market of SBR was lower, and the manufacturer's offer reduced 500 RMB/ ton. As of June 4, the ex factory price of Jihua SBR 1502 of PetroChina Northeast was 12,200 RMB/ ton. During the week, traders' offers declined and market inquiries were not active. Last week, the start-up load of units in the SBR industry increased, and the 300,000 ton/ year, SBR units of Yangzi Petrochemical Company and Fushun Petrochemical Company have been restarted and in normal operation; At present, Qilu, Jihua and Lanhua plants are in normal operation. Supply side pressure has increased.

Butadiene raw materials rose, styrene rose slightly, the cost side has support. According to the monitoring of SunSirs, as of June 4, the price of butadiene was 7,608 RMB/ ton, up 3.12% from 7,378 RMB/ ton at the beginning of the week; As of June 4, the price of styrene was 9,600 RMB/ ton, slightly higher than 9,533 RMB/ ton at the beginning of the week.

The price of natural rubber fluctuated at a low level, mainly negative for SBR. According to the monitoring of business news agency, as of June 4, the domestic price of natural rubber was 12,800 RMB/ ton.

SunSirs analysts believe that although the current cost side has some support, there are many negative factors for SBR. On one hand, the lower price of natural rubber and the restart of SBR plants in Yangzi and Fushun have a negative impact on SBR. On the other hand, the operating rate of downstream tire enterprises in Shandong has declined. It is expected that China SBR will continue to be weak in the future.

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