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SunSirs: Minor Consolidation of China SBR Market
April 23 2024 11:16:31SunSirs(Selena)

Recently (4.12-4.19), the market situation of SBR has slightly improved. According to the Commodity Market Analysis System of SunSirs, as of April 19th, the price of SBR in the East China market was 13,475 RMB/ton, a decrease of 0.43% from 13,533 RMB/ton on April 12th. The high prices of raw materials are strong, supported by the cost of SBR. Downstream all steel tire production has slightly increased, providing rigid support for SBR; The production of SBR has been basically stable, and the inventory of enterprises has remained at a medium level. In addition, downstream procurement of high priced goods is cautious, resulting in a stable, moderate, and weak operation of the SBR market. As of the 19th, the mainstream market price of SBR in Fushun, Jihua, and Yangzi in East China was around 13,150-13,600 RMB/ton.

Recently (4.12-4.19), the prices of raw materials such as butadiene and styrene have remained high, and there is still support for the cost of SBR. According to the commodity market analysis system of SunSirs, as of April 19th, the price of butadiene was 11,700 RMB/ton, which is unchanged from last Friday's price; As of April 19th, the price of styrene was 9,700 RMB/ton, an increase of 0.78% from 9,625 RMB/ton on April 12th.

Recently (4.12-4.19), the overall operation of domestic SBR plants has remained stable at around 7.1%.

Supply and demand side: In the recent period (4.12-4.19), downstream tire production has remained stable with slight fluctuations, maintaining rigid demand support for SBR. It is understood that as of mid April, the operating load of semi steel tires in domestic tire enterprises is around 8.00%; The operating load of all steel tires for tire enterprises in Shandong region has slightly increased to 7.1%; However, downstream customers are resistant to high priced butadiene and benzene, and tend to stock up on demand, resulting in lackluster market transactions.

SunSirs analysts believe that the prices of raw materials such as butadiene and styrene are running at high levels, and the cost of SBR is currently supported strongly; In addition, the production of SBR is temporarily stable, and the inventory of enterprises is in the middle level; Although downstream tire companies are still operating at a relatively high level, their purchasing power for high priced sources of SBR is less than expected, putting pressure on the SBR market. Overall, the current SBR market may be weak in the later stage.


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