The NBR market weakened and declined in November. According to the Commodity Market Analysis System of SunSirs, as of November 28th, the price was 15,400 RMB/ton, a decrease of 5.67% from 16,325 RMB/ton at the beginning of the month.

In November, the cost support for NBR was weak, and the increase in NBR production increased the pressure on the market supply side; In addition, there has been little change in the production of downstream rubber hoses and insulation foam industries, which provides essential support for the NBR market. In addition, the increase in NBR production in November and the abundant supply have led to a weak and downward trend in the NBR market in November. As of November 28th, the offer price for Nandi Nitrile 1052 in East China is between 16,400 and 16,600 RMB/ton; Lanhua Nitrile 3305E offers 15,100-15,200 RMB/ton; Russia offers 2,665 RMB/ton for 15,000-15,200 RMB/ton.

In November, the domestic NBR plant started construction and increased, and the Zhenjiang Nandi nitrile plant has recently restarted; As of November 28th, the overall production of NBR in China is around 9.6%.

In November, the price of raw material butadiene weakened and decreased, while the price of acrylonitrile slightly increased, resulting in weak cost support for NBR. According to the Commodity Market Analysis System of SunSirs, as of November 28th, the price of butadiene was 7,016 RMB/ton, a decrease of 6.65% from 7,516 RMB/ton at the beginning of the month; As of November 28th, the price of acrylonitrile was 7,866 RMB/ton, an increase of 0.85% from 7,800 RMB/ton at the beginning of the month.

In November, the downstream production of NBR hoses in China remained stable at around 60%, while the production of rubber insulation and foaming increased slightly from 54% at the beginning of the month to around 58%. The demand faced the urgent need for NBR support.

SunSirs analyst believes that the cost support for NBR is currently weak; Downstream production is still at a low level, which requires strong support for NBR; The supply of NBR has increased compared to the previous period, and it is expected that the NBR market will fluctuate and consolidate in the later period.

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