SunSirs: China SBR Market slightly Rises

Recently (from September 11th to September 19th), the SBR market has experienced a decline and then rose, with a slight overall increase. According to the Commodity Market Analysis System of SunSirs, as of September 19th, the price of SBR in the East China market was 13,633 RMB/ton, an increase of 0.43% from last Monday's 13,575 RMB/ton, and a low point of 13,491 RMB/ton during the cycle. During the cycle, the overall factory price of SBR increased by 400 RMB/ton. According to the Commodity Market Analysis System of SunSirs, as of September 19th, Sinopec North China Sales Company's Qilu styrene butadiene 1502 factory report was 13,700 RMB/ton.

Recently (from September 11th to September 19th), 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 19th, the price of butadiene was 8,747 RMB/ton, an increase of 1.80% from last Monday's 8,592 RMB/ton. As of September 19th, the price of styrene was 9,700 RMB/ton, an increase of 5.91% from last Monday's 9,158 RMB/ton.

In the near future (September 11th to September 19th), the tire operating rate is temporarily stable, and the support for rubber rigid needs is stable. It is understood that as of mid September 2023, the operating load of rubber tire enterprises in Shandong Province is 6.4% for all steel tires and around 7.2% for half steel tires; As of the week ending September 15th, domestic tire companies had 42 days of inventory of all steel tire products and 37 days of inventory of semi steel tire products, both of which remained unchanged on a weekly basis.

SunSirs analysts believe that the cost of SBR continues to support, and downstream demand has a certain level of immediate support. The Shenhua styrene butadiene plant has recently restarted, and the supply of SBR has slightly increased in the later stage. Overall, it is expected that the price of SBR will consolidate at a high level in the later stage.

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