SunSirs: in China SBR Market Trends to Rise

Recently (2.8-2.23), the market for SBR has risen. According to the commodity market analysis system of SunSirs, as of February 23, the price of SBR in the East China market was 12,841 RMB/ton, an increase of 3.56% from 12,400 RMB/ton on the 8th. Yibang plans to restart its 100,000 ton/year butadiene styrene plant in the near future, with an expected slight increase in the supply of SBR in the later stage; During the holiday period, downstream tire production was low and demand was weak. After the holiday, downstream tire production increased, providing certain support for SBR. The prices of raw materials styrene and butadiene have risen, supported by cost factors. After the holiday, the factory prices of manufacturers have increased, and the prices offered by merchants have also increased. According to the commodity market analysis system of SunSirs, as of February 23, the factory price of Qilu Dingbenzene 1502 from Sinopec North China Sales Company was 12,800 RMB/ton; As of the 23rd, the mainstream market price of SBR in Fushun, Jihua, and Yangzi in East China is around 12,700-13,000 RMB/ton.

Recently (2.8-2.23), the prices of raw materials butadiene and styrene have risen, and the cost support for SBR has strengthened. According to the Commodity Market Analysis System of SunSirs, as of February 23rd, the price of butadiene was 10,216 RMB/ton, an increase of 4.25% from 9,800 RMB/ton on the 8th; As of February 23rd, the price of styrene was 9,120 RMB/ton, an increase of 3.64% from 8,800 RMB/ton on February 8th.

Demand side: During the holiday period, downstream tire production was low, and the demand side was weak. After the holiday, downstream tire production increased, providing certain support for SBR. It is understood that as of February 15, 2024, the operating rates of semi steel tire and full steel tire devices have remained within 20% respectively.

Analysts from the SunSirs believe that the cost of SBR is supported, and the supply of SBR is expected to increase slightly in the later period, while the downstream tires are expected to increase significantly after the Lantern Festival. It is comprehensively expected that the market of SBR will continue to rise slightly in the later period.

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