SunSirs: China NBR Market slightly Rises

Recently (2.1-2.7), the NBR market has slightly increased. According to the Commodity Market Analysis System of SunSirs, as of February 7th, the price of NBR was 14,825 RMB/ton, an increase of 1.37% from 14,625 RMB/ton at the beginning of the month. The price of raw material butadiene continues to rise slightly, while the price of acrylonitrile slightly decreases, and the cost of NBR continues 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 inventory pressure of NBR enterprises is not high, and some enterprises have raised their listing prices. The market price of NBR has remained stable with a slight increase. As of February 7th, the mainstream market price of Lanhua 3305 in East China is 14,400-14,600 RMB/ton; Shunze 3355 market report around 15,000-15,300 RMB/ton; Nandi Nitrile 1052 reported around 16,500-16,800 RMB/ton.

Recently (2.1-2.7), the price of raw material butadiene continued to rise, while the price of acrylonitrile slightly decreased, and the cost of NBR continued to support. According to the Commodity Market Analysis System of SunSirs, as of February 7th, the price of butadiene was 9,800 RMB/ton, an increase of 0.45% from 9,756 RMB/ton on the 1st; As of February 7th, the price of acrylonitrile was 9,225 RMB/ton, a decrease of 0.67% from 9,287 RMB/ton on the 1st.

The downstream production of NBR hoses in China remains at a low level of around 35%, while the production of rubber insulation foam is around 20%. The demand side is dragging down the NBR market.

SunSirs's nitrile analyst believes that currently, NBR is supported by rising butadiene prices and costs, but downstream production is declining and demand is weak. In addition, there is not much pressure on the NBR supply side. Therefore, it is expected that the NBR market will mainly narrow before the holiday in the later period.

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