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SunSirs: China BR Market Continues to Operate at a High Level
September 30 2024 10:17:12SunSirs(Selena)

Recently (9.18-9.29), the BR market continued to operate at a high level. According to the commodity market analysis system of SunSirs, as of September 29, the market price of BR in East China was 16,370 RMB/ton, an increase of 2.18% from 16,020 RMB/ton on September 18. The price of raw material butadiene continues to rise slightly, and the cost is supported by butadiene rubber; BR production is still at a low level; Downstream tire production is stable with slight fluctuations. The supply price of BR suppliers has remained firm, and some merchants have adjusted their offers at high levels. As of September 29th, the mainstream prices of Shunding in Qilu, Daqing, Sichuan, and Yangtze regions in East China were reported at 16,300-16,500 RMB/ton.

Recently, the price of butadiene has continued to rise slightly, and the cost of butadiene rubber is supported. According to the Commodity Market Analysis System of SunSirs, as of September 29th, the price of butadiene was 13,700 RMB/ton, an increase of 1.39% from 13,512 RMB/ton on September 18th.

Recently (9.18-9.29), the overall start-up of domestic butadiene rubber plants is still at a low level of 60%. In addition, the planned shutdown and maintenance of Qilu Petrochemical and Taiwan Rubber Ube plants in the later stage will not cause significant pressure on the supply side of butadiene rubber.

On the demand side: With the support of domestic policies to promote automobile consumption, the downstream tire industry has experienced stable and slight fluctuations in production, coupled with the demand for pre holiday stocking facing the urgent needs of the butadiene rubber market. As of September 27th, the operating load of semi steel tires in domestic tire enterprises is around 79%; The operating load of all steel tires in tire enterprises in Shandong region is about 56%.

Market forecast: From a fundamental perspective, analysts from SunSirs believe that the high price of raw material butadiene will provide strong cost support for butadiene rubber; BR production remains at a low level, with little pressure on the supply side; Recently, downstream tire companies have been stocking up on butadiene rubber before the holiday, which has provided some support. Overall, the butadiene rubber market is expected to maintain a high operating trend in the short term.

 

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