SunSirs: China SBR Market Fell sharply
November 09 2022 09:55:51 SunSirs (Selena)
The market of SBR fell sharply last week (10.31-11.7). According to the monitoring of SunSirs, as of November 7, the price of domestic SBR was 10,650 RMB/ ton, down 4.34% from 11,133 RMB/ ton last Monday. At the beginning of the month, the ex factory price of two barrels of oil SBR was lowered twice, the range was around 800 RMB/ ton. According to the monitoring of SunSirs, as of November 7, the ex factory price of Fushun SBR 1502 of PetroChina Northeast Sales Company had been quoted at 10,500 RMB/ ton, and the offer of merchants had gradually declined. As of November 7, the market offer of SBR 1502 had been between 10,550 RMB/ ton and 10,750 RMB/ ton. Both demand and cost have weakened, which has a negative impact on SBR.
Last week (10.31-11.7), the prices of raw materials butadiene and styrene fell, and the cost was weak against the support of SBR. According to the monitoring of SunSirs, as of November 7, the price of butadiene was 7,146 RMB/ ton, down 6.02% from 7,603 RMB/ ton last Monday; As of November 7, the price of styrene was 8,191 RMB/ ton, down 1.80% from 8,341 RMB/ ton last Monday.
The demand side is weak. Downstream tire enterprises start at a low level, and the demand side is insufficient to support SBR. However, as the price of SBR continues to decline, the amount of downstream inquiries has increased slightly.
SunSirs analysts believe that the cost is lower; Inquiries in the downstream have increased with the price decreasing, but the overall commencement is still at a low level; Although Li Changrong shut down the 50,000 t/a unit for maintenance this week, the supply is still loose in the short term. It is expected that China SBR will fluctuate weakly in a narrow range in the short term.
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