SunSirs: China NBR Market Continued to Rise slightly LAST Week

　　Last week (7.19-7.23), NBR market rose slightly. According to the monitoring of SunSirs, as of July 23, the price of NBR was 21,433 RMB/ ton, a slight increase of 1.58% compared with the price of 21,100 RMB/ ton at the beginning of the week.

　　The ex-factory price of domestic NBR increased. According to the monitoring of SunSirs, Lanzhou Petrochemical nitrile N41E reported 20,000 RMB/ ton as of July 23; 3305E quoted 21,100 RMB/ ton; At present, 3308E was reported as 22,000 RMB/ ton; Ningbo shunze 65,000 ton/ year unit operates normally, and the manufacturer has a large inventory. The ex-factory price of nitrile 3355/ 3365 was 20,800 RMB/ ton, and the ex-factory price of 3380 was 21,300 RMB/ ton. Since July, high temperature weather has appeared throughout the country, power consumption peaks have appeared in Jiangsu, Zhejiang, Guangdong and Henan, some downstream enterprises have started to decline, and the demand side support is weak.

　　The price of raw butadiene rose sharply, with strong cost support. According to the monitoring of SunSirs, as of July 23, the price of butadiene was 11,482 RMB/ ton, up 4.50% from 10,987 RMB/ ton at the beginning of the week.

　　SunSirs nitrile analysts believe that the demand side support is weak, but the cost side support is strong. It is expected that the high level of NBR market will be strong in China in the later stage.