SunSirs: China NBR Market is Weak and Stable temporarily

https://www.chemnet.com   Dec 12,2022 SunSirs

　　According to the monitoring of SunSirs, as of December 10, the price of NBR was 15,150 RMB/ton. Since December, the market of NBR has continued to be weak and stable. The demand continues to be sluggish and the inquiry is not active. The ex factory price of NBR of domestic enterprises was stable. As of October 10, the ex factory report of Lanzhou NBR N41 was 13,400 RMB/ton. Narrow adjustment of market offer. At present, the mainstream report of 2665 nitrile in Russia is 13,200-13,400 RMB/ton.

　　In the first ten days of December, the price of butadiene as raw material rose slightly, while the price of acrylonitrile fell sharply. The cost support of NBR was still weak. According to the monitoring of SunSirs, as of December 10, the price of acrylonitrile was 10,020 RMB/ton, down 4.57% from 10,500 RMB/ton at the beginning of the month.

　　Recently, the downstream rubber products industry continued to operate at a low level, the purchase of NBR was sluggish, the market turnover was light, and the demand for NBR was insufficient.

　　NBR analysts from SunSirs believe that the supply side pressure of NBR is still at present, coupled with weak demand, and it is expected that NBR will be dominated by weak consolidation in the short term. Later, with the launch of stock preparation before 2023, China NBR market may rise slightly.

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