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SunSirs: China BR Market slightly Declined
April 24 2024 10:34:37SunSirs(Selena)

Recently (4.12-4.22), the market price of BR has slightly declined. According to the commodity market analysis system of SunSirs, as of April 22, the market price of BR in East China was 13,450 RMB/ton, a decrease of 1.25% from 13,620 RMB/ton on April 12. The high price of raw material butadiene continues to support the cost of BR; The production of BR remains at a low level; Downstream tire production has remained stable, with on-demand procurement of BR. The price of BR has mainly weakened and narrowed after a significant increase in the early stage.

Recently (4.12-4.22), the price of butadiene has been running at a high level, and the cost of BR continues to support. According to the Commodity Market Analysis System of SunSirs, as of April 22, the price of butadiene was 11,712 RMB/ton, an increase of 0.11% from 11,700 RMB/ton on April 12.

Recently (4.12-4.22), there has been a slight increase in the production of BR. As of now, the domestic production of BR is around 5.9%. The Yantai Haopu 60,000 ton/year BR plant has recently resumed operation; Qixiang Tengda's 90,000 ton/year BR plant will be shut down for maintenance starting from the 18th, and has been operating at low load until now.

Demand side: In the near future (4.12-4.22), downstream tire production has remained stable with slight fluctuations, maintaining rigid support for BR. 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%; But the downstream has some resistance to high priced Shunding, stocking up on demand, and market transactions are flat.

From a fundamental perspective, analysts from SunSirs believe that the price of raw material butadiene is still at a high level, and the cost of BR continues to support it; Some early stage equipment has recently restarted, and there are also some equipment plans for maintenance in the later stage. The expected start of production of BR is expected to remain low; Although downstream tire companies are still operating at a relatively high level, their resistance to high priced sources of BR has resulted in less than expected procurement efforts, putting pressure on the polyBR market. Overall, the current polyBR market may be weak in the future.


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