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China SBR Market has Experienced a Narrow Decline

Updated on Jul 18 ,2024
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Recently (7.9-7.17), the SBR market has experienced a narrow decline. According to the Commodity Market Analysis System of SunSirs, as of July 17th, the price of SBR in the East China market was 15,266 RMB/ton, a decrease of 0.54% from 15,350 RMB/ton on July 9th. The raw material butadiene has fallen at a high level, and the price of styrene has narrowed, resulting in a slight decrease in the cost center of SBR. Downstream tire production is temporarily stable, but there is resistance to high priced sources of SBR; The production of SBR remains low, and the inventory pressure on enterprises is not significant. As of the 17th, the mainstream market price of 1502 SBR in Fushun, Jihua, Yangzi, and Qilu in East China is around 15,150-15,500 RMB/ton.

 

Recently (7.9-7.17), the raw material butadiene has fallen from a high level, and the price of styrene has narrowed, resulting in a slight decrease in the cost center of SBR. According to the Commodity Market Analysis System of SunSirs, as of July 17th, the price of butadiene was 13,125 RMB/ton, a decrease of 3.76% from 13,637 RMB/ton on July 9th; As of July 17th, the price of styrene was 9,483 RMB/ton, an increase of 0.16% from 9,468 RMB/ton on July 9th.

Supply and demand side: Downstream tire production is temporarily stable, while demand is supported by the rigid demand of the SBR market. Downstream inquiries are resistant to high priced sources, and SBR prices are consolidating at a high level. As of July 17th, 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 62%.

From a fundamental perspective, analysts from SunSirs believe that the raw material butadiene will fall from a high level, and the cost center of SBR will slightly decrease but still have strong support; The production of SBR is at a low level, and the pressure on the supply side of SBR is not significant; The current downstream tire production is temporarily stable, but it is resistant to high priced sources. Overall, the SBR market is expected to narrow in the short term.

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