SunSirs: The Price Curve of China Butyl Rubber slightly Fell Last Week
March 11 2024 11:14:17 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, the domestic price of butyl rubber 1751 was 17,640 RMB/ton on March 8th. The price curve of butyl rubber this month has slightly fell, down 35 RMB/ton from last week.
Cost side: Entering this pricing cycle, international oil prices have slightly increased. The settlement price of the main contract for WTI crude oil futures in the United States is $79.97 per barrel, and the settlement price of the main contract for Brent crude oil futures is $83.55 per barrel. The price of high-purity isobutylene in its sorted state is around 10300 RMB/ton. This week, the load rate of the butyl rubber industry is around 5 floors, and the construction has increased by about 1 floor compared to last week.
Demand side: In the downstream of March, there are sufficient orders from tire steel enterprises, and external orders have also increased. This week, the load rate of steel tire enterprises in the industry continued to increase. The load rate of the semi steel tire industry was greater than 7.8 floors, and the load rate of the full steel tire industry was less than 7 floors. The production of enterprises has increased compared to last week.
Analysts from SunSirs believe that the cost support for this week is average, and although the downstream operating rate is high, it mainly consumes pre year inventory. Downstream enterprises replenish goods as needed. The inventory of imported goods in the venue is tight, while the inventory of domestic goods is overflowing. There are many inquiries, and transactions are cautious. It is expected that the butyl rubber market will experience volatility and consolidation in the short term.
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