SunSirs: BR Market Fluctuates Slightly (June 17-24)

Price trend

This week (6.17-6.24) the BR market fluctuated slightly. According to the monitoring of SunSirs, as of June 24, the domestic price of BR was 14,810 RMB/ton, down 0.34% from last Friday's 14,860 RMB/ton, and the weekly low was 14,780 RMB/ton. The price of raw materials fell, the equipment of enterprises was overhauled, and the long and short factors of BR were intertwined, and the market was volatile and consolidating.

Analysis review

This week (6.17-6.24), the ex-factory price of BR of domestic enterprises was stable. According to the monitoring of SunSirs, as of June 24, the price of Qilu BR of Sinopec North China Sales Company was implemented at 14,700 RMB/ton; International crude oil and raw butadiene prices fell from high levels; cis-butadiene plants such as Chuanhua/Zhenhua restarted, Maoming/Wanda and other plants were shut down, and there was little pressure on the supply side; but the market transaction was slightly stalemate, and the BR market offer fell slightly

This week (6.17-6.24) butadiene prices fell slightly, and the cost support continued to weaken. According to the monitoring of SunSirs, as of June 24, the price of butadiene was 11,157 RMB/ton, down 1.17% from last Friday's 11,290 RMB/ton.

The natural rubber market fluctuated slightly. According to the monitoring of SunSirs, as of June 24, the price of natural rubber was 12,776 RMB/ton, an increase of 0.60% from 12,700 RMB/ton at the beginning of the month.

The construction of downstream tires was more than 60%, which had a certain support for rubber demand, but there was conflict with high-priced goods, and the market transaction at high prices was slightly deadlocked.

Market outlook

Analysts of SunSirs believe that the cost of raw materials has fallen and the supply side has little pressure, but the market is slightly resistant to high prices. It is expected that the price of BR will fluctuate and consolidate in the short term.

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