SunSirs: China SBR Market has seen a Significant Upward Trend

Recently (9.1-9.11), the SBR market has seen a significant upward trend. According to the Commodity Market Analysis System of SunSirs, as of September 11th, the price of SBR in the East China market was 13,575 RMB/ton, an increase of 12.27% from 12,091 RMB/ton at the beginning of the month. During the cycle, the factory price of SBR has significantly increased. According to the Commodity Market Analysis System of SunSirs, as of September 11th, Sinopec North China Sales Company's Qilu styrene butadiene 1502 factory report was 13,300 RMB/ton. During the week, the prices of raw materials such as butadiene and styrene significantly increased, and the cost of SBR continued to support; Downstream tire production is basically stable, and support for SBR is just needed. The basic operation of the SBR industry chain is high level consolidation operation. As of September 11th, the mainstream offer for SBR 1502 in the East China market was between 13,300 and 13,800 RMB/ton.

Recently (9.1-9.11), the prices of raw materials butadiene and styrene have significantly increased, and the cost of SBR continues to be supported. According to the Commodity Market Analysis System of SunSirs, as of September 11th, the price of butadiene was 8,592 RMB/ton, an increase of 12.67% from 7,626 RMB/ton at the beginning of the month. As of September 11th, the price of styrene was 9,158 RMB/ton, an increase of 4.71% from 8,746 RMB/ton at the beginning of the month.

In the near future (9.1-9.11), the tire operating rate is temporarily stable, with stable support for rubber stiffness. It is understood that as of early September 2023, the operating load of rubber tire enterprises in Shandong Province was 6.4% for all steel tires and around 7.2% for half steel tires.

SunSirs analysts believe that the cost of SBR will continue to support, and downstream demand will have a certain level of immediate support. The Shenhua styrene butadiene plant is planned to restart in mid September, and the supply of SBR will increase slightly in the later stage. Overall, it is expected that the price of SBR will stabilize at a high level in the later stage.

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