SunSirs: China Synthetic Rubber Rose and Fell Last Week (July 19-23)

According to the data monitoring of SunSirs, the domestic synthetic rubber price rose and fell last week (July 19-23). The price of CIS polybutadiene rubber BR9000 was 14,690 RMB/ ton at the beginning of the week and 14,420 RMB/ ton at the weekend, with an overall decline of 1.84%; The price of IBB 1502 was 14,225 RMB/ ton at the beginning of the week and 13,866 RMB/ ton at the end of the week, with an overall decrease of 2.52%.

Last week (July 19-23), the domestic synthetic rubber market rose and fell, and the ex-factory price of synthetic rubber was stable. According to the monitoring of SunSirs, as of July 23, the ex-warehouse price of Daqing BR of CNPC Northeast was 14,100 RMB/ ton, and Jihua/Fushun 1502 reported 13,900 RMB/ ton; There is some resistance to high priced rubber in the downstream, and the merchant’s offer is mainly higher and lower. According to the understanding of SunSirs, the mainstream price in BR market such as Daqing, Qilu, Yanshan, Sichuan and Qixiang was around 14,050-14,600 RMB/ ton; Jihua, Fushun, Yangzi and Qilu emulsion polybutylbenzene 1502 mainstream report 13,400-14,000 RMB/ ton.

Last week (7.19-7.23), raw butadiene continued to rise, and the cost side continued to support more. According to the monitoring of SunSirs, as of July 23, the price of butadiene was 11,842 RMB/ ton, up 4.50% from 10,987 RMB/ ton at the beginning of the week.

Last week, the price of natural rubber still fluctuated around 13,000 RMB/ ton, which was difficult to make an effective breakthrough in the short term, and it was mainly bad for synthetic rubber. According to the monitoring of SunSirs, as of July 23, the price of China domestic natural rubber was 12,962 RMB/ ton.

SunSirs analysts believe that the low price of natural rubber has a strong negative impact on BR, but BR and SBR have plant maintenance plans in the later stage. In addition, the supply of raw butadiene is tight and the price is high. It is expected that BR and SBR will fluctuate at a high level in China in the later stage.