In March, the SBR market first rose and then fell, with an overall upward trend. According to the commodity market analysis system of SunSirs, as of March 31, the price of butadiene benzene 1502 was at 13,425 RMB/ton, an increase of 3.34% from 12,991 RMB/ton at the beginning of the month, and a decrease of 2.07% from the high point of 13,708 RMB/ton in the cycle.

In March, the supply of SBR was high and then low, with slight overall changes compared to February, which had a slightly bearish impact on the SBR market; Downstream tires are operating at a high level of production, but as the price of butadiene styrene rises, there is resistance from downstream suppliers towards high priced goods, and inquiries in the SBR market are light; The prices of raw materials such as butadiene and styrene are operating at high levels, while the cost support for SBR remains strong. The SBR market is supported by costs and demand, but as marginal demand weakens, the high price of SBR has slightly fallen.

In March, the production of SBR was high before and then low. At the beginning of the month, Yibang's 100,000 ton/year plant restarted, and in the middle of the month, some enterprises slightly reduced the negative operation of butadiene styrene plants. Overall, the production of SBR in March decreased from 7.1% at the beginning of the month to around 6.6% at the end of the month.

In March, the prices of butadiene and styrene as raw materials for SBR were operating at a high level, with strong cost support for SBR.

According to the Commodity Market Analysis System of SunSirs, as of March 31st, the price of butadiene was 11,525 RMB/ton, an increase of 3.88% from 11,095 RMB/ton at the beginning of the month; As of March 31st, the price of styrene was 9,325 RMB/ton, an increase of 4.72% from 8,905 RMB/ton at the beginning of the month.

Demand side: Downstream tire production is temporarily stable, providing certain support for SBR. It is understood that as of late March, the operating load of semi steel tires in domestic tire enterprises was around 790%; The operating load of all steel tires in tire enterprises in Shandong region is close to 70%; But in the middle of the month, the price of SBR increased significantly, and downstream consumers resisted the high price, resulting in a slowdown in procurement efforts.

Market forecast: SunSirs analysts believe that there is strong support for the cost of SBR, and there is not much pressure on the supply side of SBR. Downstream tire production has increased to a relatively high level, and demand has strong support for butadiene styrene. However, downstream demand is resistant to high priced sources, and it is expected that the SBR market will consolidate in the later period.

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