SunSirs: China NBR Market declined slightly in November

　　In November, the market price of NBR declined slightly. According to the monitoring of SunSirs, the price of NBR was 24,900 RMB/ ton at the beginning of November and 24,575 RMB/ ton at the end of the month. At the end of November, it fell by 1.31% compared with the beginning of the month.

　　The supply of NBR in China is basically stable, and the inventory of enterprises is small. The ex-factory price of NBR increased in November. It is understood that as of November 30, Lanzhou Petrochemical nitrile N41E reported 22,800 RMB/ ton, 3305E reported 23,100 RMB/ ton and 3308E reported 24,200 RMB/ ton. On one hand, the ex-factory price increased, on the other hand, the environmental protection monitoring in winter reduced the start-up of nitrile downstream products enterprises, the demand side was weak, and the market traders’ offer rose first and then fell.

　　In November, the raw material butadiene fell sharply, the price of acrylonitrile rose slightly, and the cost side was empty. According to the monitoring of business society, as of November 30, the price of butadiene was 6,486 RMB/ ton, down 18.83% from 7,991 RMB/ ton at the beginning of the month; As of November 30, the price of acrylonitrile was 15,716 RMB/ ton, a slight increase of 1.84% compared with 15,433 RMB/ ton at the beginning of the month.SunSirs NBR analysts believe that the cost side is empty and the demand side is weak, but the supply side continues to be tight. Under the contradiction between supply and demand, NBR prices are expected to fluctuate narrowly in China in the short term.