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SunSirs: The Price of Butyl Rubber slightly Rebounded in China Last Week
March 18 2024 14:13:59SunSirs(Selena)

According to the commodity market analysis system of SunSirs, the domestic price of butyl rubber 1751 was 17,760 RMB/ton on March 15th. After experiencing a decline in the previous week's price curve, the price has slightly rebounded this week, increasing by 0.65% compared to the previous week, 0.48% compared to March 1st, and 1.05% compared to January.

Cost side: On March 13th, due to positive US EIA inventory data and Ukraine's attack on Russian refineries, international crude oil futures rose significantly, up nearly 3%. The price of isobutylene rose with the rising tide, with an increase of 4.69%. Today, the reference price for isobutylene is 10,800 RMB/ton.

Demand side: In mid March, the load rate of downstream steel tire enterprises continued to increase, with the load rate of the semi steel tire industry reaching over 80% and the load rate of the full steel tire industry exceeding 70%. The production capacity of enterprises has increased compared to last week, and the industry load rate is operating at a high level.

Last week, the load rate of the butyl rubber industry was 4.5 layers, and the price of isobutylene in raw materials was rising. There were positive factors in the cost side, and downstream work was actively underway. The intention to replenish inventory in the downstream was gradually increasing. However, the spot supply of butyl rubber was relatively loose, and analysts from SunSirs believe that the butyl market is expected to remain stable and strong in the short term, with further upward momentum in prices.


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