SunSirs: High Level Operation of China BR Market on September 14
September 15 2023 15:03:40 SunSirs (Selena)
On September 14th, the main futures contract for BR, 2401, fluctuated at a high level, closing at 13,920 RMB/ton and settling at 13,755 RMB/ton.
The price of raw material butadiene is running at a high level, and the cost support of BR continues. As of September 14th, the price of butadiene was 8,592 RMB/ton, an increase of 12.67% compared to the beginning of the month; Downstream support is just needed, and as of early September, the domestic construction load of semi steel tires is around 7.2%, and the construction load of full steel tires is 6.4%; This week, the supply price of BR has been increased by 700 RMB/ton, and merchants have reported a surge in prices. As of September 14th, the ex factory price of Daqing BR of PetroChina Northeast Sales Company was reported at 14,000 RMB/ton; Taking into account the above factors, the price of BR continues to operate at a high level.
Raw material prices are operating at a high level, and the supply side is tight. Currently, downstream construction is just in need of support for rubber, but there is resistance to high priced BR. It is expected that the spot market of BR will consolidate at a high level in the short term.
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