SunSirs: China Butyl Rubber Fluctuated slightly in March
April 02 2024 10:25:07 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the price of butyl rubber fluctuated slightly in March. As of March 29th, the mainstream price of domestic butyl rubber (1751) was 17,700 RMB/ton, an increase of 0.14% from March 1st and 0.71% from January.
Cost side: In March, the upstream isobutylene price of butyl rubber increased due to the continuous high MTBE market prices, low factory operating rates, and tight MTBE supply, resulting in a strong operating trend in the isobutylene market. As of March 29th, the price of isobutene stream has remained stable at 11,500 RMB/ton, an increase of 9.72% compared to the previous month, but buyers have recently begun to show resistance. Traders have adjusted their offer strategies one after another, showing some signs of loosening.
Demand side: The steel tire industry is currently showing a good situation of supply shortage, with both domestic and export orders showing a relatively sufficient state, while inventory remains at a low level. The strong atmosphere of speculation in the downstream market has brought certain assistance to sales. The demand side has shown strong support for the market.
The overall performance of upstream butyl rubber in March is still good, with solid support provided by cost. However, some buyers have reduced their willingness to enter due to the impact of rising prices, and the support from cost will be mediocre in the later stage. The import volume of butyl rubber in February was 11,721.689 tons, and the successive arrival of imported goods at the port has gradually increased the inventory on site, bringing a certain easing effect to the market. It is expected that the market price of butyl rubber will remain relatively stable in the short term.
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