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SunSirs: China SBR Market Declined slightly (April 19-23)

April 26 2021 11:00:52     SunSirs (Selena)

According to the data monitoring of SunSirs, the domestic SBR market declined slightly from April 19 to April 23. The price was 14,066 RMB/ ton at the beginning of the week, and dropped to 13,833 RMB/ ton at the end of the week, with a slight decline of 1.66%.

Last week, the domestic SBR market declined slightly, and the manufacturer's offer decreased slightly. As of April 23, the ex-factory price of Jilin SBR 1502 of PetroChina Northeast was 13,900 RMB/ ton. Within the week, the trading quotation was mainly adjusted slightly, and the market inquiry was slightly light. On the whole, the SBR start-up load was stable last week.

Last week, butadiene prices fell slightly, styrene prices rose sharply, the cost side still has support. According to the monitoring of SunSirs, as of April 23, the price of butadiene was 6,637 RMB/ ton, down 0.88% from 6,696 RMB/ ton at the beginning of the week; As of April 23, the price of styrene was 9,800 RMB/ ton, up 5.57% from 9,283 RMB/ ton at the beginning of the week.

Since the end of February, the price of natural rubber has been falling all the way. Considering the cost, the downstream tire enterprises purchase more from natural rubber, and the demand for SBR is under pressure. According to the monitoring of SunSirs, as of April 23, the domestic natural rubber price was 13,437 RMB/ ton, 17.50% lower than the highest point of 16,287 RMB/ ton at the end of February, and 5.39% higher than the lowest point of 12,750 RMB/ ton since April

SunSirs analysts believe that although the price of natural rubber is bad for SBR, there is little pressure on the supply side of SBR. In addition, the price of natural rubber rebounded last week. If natural rubber stabilizes in the later stage, it is expected that the price of SBR will stop falling and stabilize in the short term; if the natural rubber price rebound is weak, it will drive a new round of decline of SBR in China.

 

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