SunSirs: China NBR Market was basically stable in June
July 09 2021 14:51:48 SunSirs (Selena)
In June, the NBR market was basically stable. According to the monitoring of SunSirs, the price of NBR was 20,800 RMB/ ton at the beginning of the month and 20,900 RMB/ ton at the end of the month. The overall end of the month slightly increased by 0.48% compared with the beginning of the month.
The domestic supply side of NBR was basically stable, the ex-factory price of NBR has been increased, but the demand side was still relatively weak. It is understood that the ex-factory price of domestic Lanhua nitrile rose in June. As of June 30, Lanzhou Petrochemical N41E reported 18,500 RMB/ ton, 3305E reported 19,600 RMB/ ton, 3308E reported 20,500 RMB/ ton. In June, the downstream of NBR started low-level on-demand procurement, and the offer of traders was basically stable.
In June, the price of butadiene rose sharply, and the cost side was strongly supported. According to the monitoring of SunSirs, the price of butadiene was 7,458 RMB/ ton at the beginning of June and 8,852 RMB/ ton at the end of June, with an overall increase of 18.68%.
SunSirs NBR analysts believe that, the supply side of NBR is stable at present, while the cost side goes up substantially. It is expected that NBR will be strongly supported by the cost in the later period in China.
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