SunSirs: China NBR Market is mainly Stable
February 01 2024 10:21:21 SunSirs (Selena)
Recently (1.26-1.31), the market for NBR has remained stable. According to the commodity market analysis system of SunSirs, as of January 31st, the price of NBR is 14,575 RMB/ton. The price of raw material butadiene continues to rise, while the price of acrylonitrile remains stable, with the cost of NBR continuing to support; In the winter off-season, coupled with the gradual decline in downstream production near the Spring Festival, the demand for NBR is weak. The price of NBR in the market has remained stable with a slight adjustment. As of January 31st, the mainstream market price of Lanhua 3305 in East China is 14,000-14,200 RMB/ton; Shunze 3355 market report around 14,500-14,700 RMB/ton; Nandi Nitrile 1052 reported around 16,300-16,500 RMB/ton.
Recently (1.26-1.31), the price of raw material butadiene has continued to rise, while the price of acrylonitrile has remained stable. The cost of NBR continues to support this trend. According to the Commodity Market Analysis System of SunSirs, as of January 31st, the price of butadiene was 9,493 RMB/ton, an increase of 3.83% from 9,143 RMB/ton on January 26th; As of January 31st, the price of acrylonitrile remained stable at 9,287 RMB/ton.
The downstream production of NBR hoses in China remains at a low level of around 4.5%, while the production of rubber insulation foam is around 4.5%. The demand side is dragging down the NBR market.
SunSirs analyst believes that currently, NBR is supported by rising butadiene prices and costs, but downstream production is declining and demand is weak. In addition, the supply of NBR is expected to be tight in the later stage. Overall, it is expected that the NBR market will mainly narrow before the holiday.
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