SunSirs: China SBR Market is Weak and Declining

https://www.chemnet.com   Nov 28,2024 SunSirs

Recently (11.18-11.27), the SBR market has been weak and declining. According to the Commodity Market Analysis System of SunSirs, as of November 27th, the price of SBR in the East China market was 14,700 RMB/ton, a decrease of 4.13% from 15,333 RMB/ton on November 18th. Raw material butadiene continues to decline, styrene prices have slightly adjusted, and the cost center of SBR has shifted downward. Downstream all steel tire production slightly decreased; The production of SBR is basically stable, and the supply pressure is not significant. The supply price of SBR has been lowered, and as of November 27th, the mainstream market price of 1502 SBR in Fushun, Jihua, Yangzi, and Qilu in East China is around 14,600-14,900 RMB/ton.

Recently (11.18-11.27), the raw material butadiene continued to decline, and the price of styrene slightly adjusted, causing the cost center of SBR to shift downwards. According to the Commodity Market Analysis System of SunSirs, as of November 27th, the price of butadiene was 9,675 RMB/ton, a decrease of 4.80% from 10,162 RMB/ton on November 18th; As of November 27th, the price of styrene was 8,916 RMB/ton, an increase of 0.93% from 8,834 RMB/ton on November 18th.

Supply and demand side: Downstream tires mainly provide essential support for the SBR market. As of November 22, the operating load of semi steel tires in domestic tire enterprises is around 79%; The operating load of all steel tires in tire enterprises in Shandong region is about 53%.

Market forecast: From a fundamental perspective, analysts from SunSirs believe that the current cost of SBR is decreasing; The production of SBR is generally stable, and there is not much pressure on the supply side of SBR; The current downstream production of all steel tires has slightly decreased, and overall, due to the impact of costs and supply and demand, it is expected that the SBR market will mainly consolidate weakly in the short term.

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