SunSirs: The Market Situation of China SBR Continues to be Weak

Last week (11.13-11.21), the SBR market continued to be weak. According to the Commodity Market Analysis System of SunSirs, as of November 21, the price of SBR in the East China market was 11,850 RMB/ton, a decrease of 2.67% from the previous Monday's 12,175 RMB/ton. During the cycle, the factory price of SBR has decreased. According to the Commodity Market Analysis System of SunSirs, as of November 21, Sinopec North China Sales Company reported a factory price of 11,600 RMB/ton for Qilu styrene butadiene 1502.

Last week (11.13-11.21), the high price of raw material butadiene and the slight increase in styrene prices continued to support the cost of SBR. According to the Commodity Market Analysis System of SunSirs, as of November 21, the price of butadiene was at 9,541 RMB/ton, a decrease of 0.05% from the previous Monday's 9,546 RMB/ton; As of November 21st, the price of styrene was 8,746 RMB/ton, an increase of 1.51% from the previous Monday's 8,616 RMB/ton.

Last week (11.13-11.21), the overall construction of domestic SBR plants remained stable, with some companies planning to shut down for maintenance in the future.

Demand side: Last week (11.13-11.21), the start of tire construction saw a slight decline in all steel tires. New orders were cautiously purchased, and market transactions were flat. Demand was stable and weak in the face of rubber support. It is understood that as of mid November 2023, the operating load of all steel tires for rubber tire enterprises in Shandong region is 6.2%; The operating load of semi steel tires for domestic rubber tire enterprises is 7.2%.

SunSirs analysts believe that the cost of SBR continues to support, but overall downstream inquiries are light. Additionally, the supply of SBR is expected to decline slightly in the future, and it is expected that the price of SBR will be weak in the future.

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