SunSirs: China Butyl Rubber Ran steadily Last Week
April 15 2024 10:37:45 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the price of butyl rubber stabilized last week without any fluctuations. As of April 12th, the mainstream price of domestic butyl rubber (1751) was 17,700 RMB/ton, an increase of 0.14% from the previous month and 0.71% from January.
Cost side: In terms of isobutene, the international crude oil closing price continues to rise under the increasing geopolitical risks, and the MTBE market is actively pushing up. The isobutylene industry has a low load rate, with producers mainly completing old orders and a loose market performance. The isobutene market has maintained a high and stable operation, with a reference price of 11,750 RMB/ton for isobutene (99%) as of April 12th.
Demand side: Although the steel tire industry is experiencing a wave of price increases, orders are still in a strong state, and the industry's operating rate is still at a high level around 7-8 floors. In terms of semi steel tires, the market saturation is low and there is still order support. It is expected that the operating rate will remain unchanged this week. In terms of all steel tires, due to lower than expected shipments and inventory backlog, it is expected that the operating rate will decrease this week, and some companies will stop and control production.
SunSirs analysts believe that butyl rubber stabilized last week. In the short term, the MTBE market is actively pushing up, with some support from the cost side. Part of the foreign goods have gradually entered the port, while domestic inventory is abundant. Overall, the butyl rubber market will mainly consolidate at a high level in the short term.
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