SunSirs: China NBR Market Is Weak and Declining

Recently (10.1-10.14), the NBR market has been weak and declining. According to the Commodity Market Analysis System of SunSirs, as of October 14th, the price of NBR was 16,550 RMB/ton, a decrease of 0.30% from 16,600 RMB/ton at the beginning of the month. After the holiday, the fundamentals of NBR have been weak, and the NBR market is mainly weak. As of October 14th, the mainstream market price for Lanhua 3305 in East China is around 16,200-16,200 RMB/ton; The mainstream market price for nitrile 3665 in Russia is around 15,800-16,000 RMB/ton; The mainstream market price for Nandi Nitrile 1052 is around 17,300 to 17,400 RMB/ton.

Recently (10.1-10.14), the prices of raw materials butadiene and acrylonitrile have significantly decreased, and the cost support for NBR has weakened significantly. According to the Commodity Market Analysis System of SunSirs, as of October 14th, the price of butadiene was 8,446 RMB/ton, a decrease of 4.95% from 8,886 RMB/ton at the beginning of the month; As of October 14th, the price of acrylonitrile was 7,866 RMB/ton, a decrease of 1.46% from the price of 7,983 RMB/ton at the beginning of the month.

During the long holiday, the downstream production of NBR hoses in China decreased to around 4.4%, and the production of insulation foam decreased to a low of around 4.3%. The overall demand for NBR downstream was average, which dragged down the NBR market.

SunSirs NBR analyst believes that the cost support for NBR is currently weak; The low downstream production and high NBR production have a negative impact on NBR. Overall, it is expected that the NBR market will consolidate weakly in the later stage.

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