SunSirs: China SBR Market is Weak and Downward
October 11 2023 10:37:35 SunSirs (Selena)
Recently (9.28-10.10), the SBR market has been weak and declining. According to the Commodity Market Analysis System of SunSirs, as of October 10th, the price of SBR in the East China market was 12,700 RMB/ton, a decrease of 3.79% from the 13,200 RMB/ton before the holiday. During the cycle, the factory price of SBR has decreased. According to the Commodity Market Analysis System of SunSirs, as of October 10th, Sinopec North China Sales Company reported a factory price of 12,600 RMB/ton for Qilu styrene butadiene 1502.
Recently (9.28-10.10), the price of raw material butadiene has stabilized, and the price of styrene has weakened, leading to a decrease in the cost center of SBR. According to the Commodity Market Analysis System of SunSirs, as of October 10th, the price of butadiene was at 8710 RMB/ton, which was stable compared to before the holiday. As of October 10th, the price of styrene was 8,696 RMB/ton, a decrease of 5.30% from the pre holiday price of 9,183 RMB/ton.
Demand side: Tire production has fluctuated slightly, but due to pre holiday stocking, rubber inquiries are relatively light after the holiday.
SunSirs analysts believe that the cost of SBR is weak, and overall downstream inquiries are light. The supply of SBR is relatively stable in the near future, and it is expected that the price of SBR will be weak and volatile in the future.
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