SunSirs: Narrow Range Consolidation of China NBR Market
November 23 2023 10:25:14 SunSirs (Selena)
Last week (11.13-11.21), the NBR market saw a narrow consolidation. According to the Commodity Market Analysis System of SunSirs, as of November 21, the price of NBR was 14,950 RMB/ton, an increase of 0.17% from the previous Monday's 14,925 RMB/ton. The price of raw material butadiene has stabilized at a high level, while the price of acrylonitrile has slightly increased, while the cost of NBR has slightly increased; Recently, low level inquiries for downstream construction have been light, and there have been few market transactions. The overall market price of NBR has remained stable with little movement. As of November 21, the mainstream market price of Lanhua Nitrile 3305 in East China was 14,000-14,200 RMB/ton; Shunze NBR 3355 mainstream reported at 14,300-14,500 RMB/ton; Nandi NBR 1052 is priced at 17,300-17,500 RMB/ton.
Last week (11.13-11.21), the high price of raw material butadiene stabilized, the price of acrylonitrile slightly increased, and the cost of NBR slightly increased. 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 acrylonitrile was 10,062 RMB/ton, an increase of 1.26% from the previous Monday's 9,937 RMB/ton.
The downstream rubber pipe construction of domestic NBR remains at a low level of around 60%, and inquiries about NBR are cautious. The trading atmosphere on the market is slightly stagnant, and the NBR market is weakening.
SunSirs NBR 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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