SunSirs: China NBR Market is Weak and slightly Declining
October 12 2023 09:58:23 SunSirs (Selena)
Recently (9.28-10.11), the NBR market has been weak and slightly declining. According to the Commodity Market Analysis System of SunSirs, as of October 11th, the price of NBR was 15,725 RMB/ton, a decrease of 1.10% from 15,900 RMB/ton before the holiday. The prices of raw materials such as butadiene and acrylonitrile have remained high, while the cost of NBR has remained basically stable; After the holiday, downstream inquiries were light and there were not many market transactions. The prices quoted by production enterprises are temporarily stable, while the prices quoted by merchants have slightly declined. As of October 11th, the mainstream market price of Lanhua Nitrile 3305 in East China was 14,600-14,800 RMB/ton; Shunze nitrile 3355 mainstream reported at 15,500-15,700 RMB/ton; Nandi Nitrile 1052 is priced at 17,600-17,700 RMB/ton.
Recently (9.28-10.11), the prices of raw materials butadiene and acrylonitrile have stabilized at high levels, and the cost of NBR has remained basically stable. According to the Commodity Market Analysis System of SunSirs, as of October 11th, the price of butadiene was 8,710 RMB/ton; As of October 11th, the price of acrylonitrile was 9,825 RMB/ton.
In the domestic NBR market, some brands have sufficient supply of goods, and merchants have slightly lowered their offers. Downstream rubber product industries such as rubber hoses and automotive parts have started stable operations. After the holiday, inquiries for NBR are cautious, and the trading atmosphere on the market is slightly stagnant.
SunSirs nitrile analysts believe that the current supply of NBR is relatively sufficient, and downstream inquiries are light. It is expected that the NBR market will be weak and consolidate in the short term.
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