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SunSirs: China Butyl Rubber Price Remained Calm without any Fluctuations Last Week
April 08 2024 11:01:59SunSirs(Selena)

According to the monitoring of the commodity market analysis system of SunSirs, the price curve of butyl rubber remained calm last week. As of April 7th, the mainstream price of domestic butyl rubber (1751) was 17,700 RMB/ton, an increase of 0.14% from the previous month and 0.71% from January.

In terms of crude oil: Due to the ongoing tense relationship between Iran and Israel, which has had a profound impact on the stability of the Middle East and the global crude oil market, the zero selling price of refined oil has been raised again in this round. In 2024, retail prices have experienced three increases, one decrease, and two setbacks, leading to an upward trend in the crude oil market during the cycle

In terms of isobutene: After a continuous upward trend in March, isobutene entered a stable operating period last week. As of April 7th, the price of isobutene stream has remained stable at 11,500 RMB/ton. Currently, buyers in the isobutene market have decreased their willingness to enter due to the impact of rising prices, and the upward trend is gradually stabilizing.

Demand side: Recently, several steel tire companies have announced an increase in steel tire prices, leading to a wave of price increases in the tire industry in April, with price increases ranging from 2% to 5%. Currently, the operating rate of all steel tires is close to 7 floors, while the operating rate of half steel tires is greater than 8 floors. The demand for steel tires in the market is showing a strong growth trend, with a continuous flow of orders far exceeding the current production and supply capacity, making it difficult to meet market demand.

Analysts from SunSirs believe that the crude oil market is on the rise, with high prices of raw material isobutylene and strong cost support for butyl rubber. The supply of imported butyl rubber is tight, and multiple suppliers have entered the industry in search of goods. Domestic inventory is abundant. There are favorable factors in the downstream steel tire industry. Overall, the butyl rubber market will mainly consolidate at a high level in the short term.


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