SunSirs: China SBR Market is Weak
December 20 2023 13:09:55 SunSirs (Selena)
Recently (12.11-12.18), the SBR market has been weak and consolidating. According to the commodity market analysis system of SunSirs, as of December 18th, the price of SBR in the East China market was 11,583 RMB/ton, which remained stable in the short term. During the cycle, the ex factory price of SBR has remained stable. According to the commodity market analysis system of SunSirs, as of December 18th, the ex factory price of Qilu butadiene styrene 1502 of Sinopec North China Sales Company was 11,300 RMB/ton.
Recently (12.11-12.18), the price of raw material butadiene has dropped significantly, the price of styrene has slightly decreased, and the cost of SBR has decreased. According to the Commodity Market Analysis System of SunSirs, as of December 18th, the price of butadiene was 8,058 RMB/ton, a decrease of 4.15% from 8,407 RMB/ton on December 11th; As of December 18th, the price of styrene was 8,258 RMB/ton, a decrease of 0.30% from 8,283 RMB/ton on December 11th, and the low point in the cycle was 8,250 RMB/ton.
Recently (12.11-12.18), the overall construction of domestic SBR plants has slightly increased.
Demand side: In recent days (12.11-12.18), the production of all steel tires has remained stable, and the demand for rubber is relatively weak. It is understood that as of mid December 2023, the operating load of all steel tires in rubber tire enterprises in Shandong Province was 5.9%; The operating load of semi steel tires in domestic rubber tire enterprises is 7.2%.
Market forecast: SunSirs analysts believe that the cost of SBR will decrease, coupled with weak downstream tire support for rigid demand and a slight increase in SBR supply. Overall, it is expected that the price of SBR will decline weakly in the future.
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