SunSirs: China BR Market Situation has significantly Declined

https://www.chemnet.com   Nov 29,2024 SunSirs

Recently (11.19-11.27), the market price of BR has significantly declined. According to the commodity market analysis system of SunSirs, as of November 27th, the market price of BR in East China was 13,360 RMB/ton, a decrease of 8.99% from 14,680 RMB/ton on November 19th. The price of raw material butadiene has dropped significantly, and the center of gravity of butadiene rubber has shifted downwards; BR production slightly increased; Downstream all steel tire production has slightly decreased. BR suppliers have lowered their supply prices, and merchants have adjusted their quotes. As of November 27th, the mainstream quotes for Shunding in Qilu, Daqing, Sichuan, and Yangtze regions in East China range from 13,250 to 13,600 RMB/ton.

Recently, the price of butadiene has continued to decline, and the cost support for butadiene rubber has weakened. 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 4.09% from 10,087 RMB/ton on November 19th.

Demand side: Downstream tires mainly provide essential support for the butadiene rubber 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%.

From a fundamental perspective, analysts from SunSirs believe that the price of raw material butadiene will continue to fall, and the cost center of butadiene rubber will shift downwards; Recently, downstream production has remained relatively stable, but there is resistance to high priced sources of goods. Overall, the BR market may experience weak adjustments in the short term.

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