SunSirs: China Butadiene Rubber Prices Weakened and Declined

On November 4th, the butadiene rubber market in East China weakened and declined. Downstream inquiries were made only as needed. Futures prices weakened and declined, leading to a 500 RMB/ton reduction in BR supply prices. Traders followed suit with price reductions of 100-200 RMB/ton. Currently, mainstream BR prices from Daqing, Yangzi, and Qilu are quoted at 10,650-10,800 RMB/ton; some private brands are quoted around 10,400-10,700 RMB/ton.

The report stated that the BR market in East China weakened and declined, with supply prices decreasing by 500 RMB/ton. Traders generally followed suit with price reductions of 100-200 RMB/ton, with mainstream prices falling to 10,650-10,800 RMB/ton. Some private brands were quoted as low as 10,400-10,700 RMB/ton, indicating an imbalance between supply and demand in the spot market, with weak demand leading to a significant price drop. Meanwhile, futures prices weakened and declined. Latest futures data shows that BR (and related futures contracts) prices generally fell, with the 2607 contract settling at 10,785 RMB/ton (down 280 RMB) and the 2608 contract settling at 10,860 RMB/ton (down 235 RMB). Low trading volume and fluctuating open interest indicate a growing bearish sentiment in the market. The combined effects of spot and futures markets constitute a significant negative factor for BR prices.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.