Last week (1.18-1.22), the price of NBR was weak and fell in China. According to the monitoring of SunSirs, the price of NBR was 18,866.67 RMB/ ton at the beginning of the week and 18,466.67 RMB/ ton at the end of the week, down 2.12%.
The ex-factory price of NBR in China was basically stable. According to the monitoring of the SunSirs, as of January 22, the price of NBR of Lanzhou Petrochemical Company was stable: N41E reported at 16,600 RMB/ ton; 3305E reported at 17,200 RMB/ ton; 3308E reported 18,100 RMB/ ton; the ex-factory price of NBR of Ningbo Shunze was stable, and the ex-factory price of NBR 3355 was 18,000 RMB/ ton. At present, the ex-factory price of NBR is stable, but the market price is slightly weaker. The mainstream market price of NBR N41E is 15,600-15,900 RMB/ ton, and that of Shunze 3355 is around 17,000 RMB/ ton.
Raw material prices fell slightly, and the cost side continued to drag down NBR. According to the monitoring of SunSirs, as of January 22, the butadiene price was 6,185 RMB/ ton, down 5.18% from 6,523 RMB/ ton at the beginning of the week.
Finally, in the near future, the operating rate of NBR downstream rubber products has decreased, the demand side has slightly softened, and the willingness of downstream to replenish more warehouses is not big, and the support for NBR has weakened.
In the future, SunSirs NBR analysts believe that the price of raw materials is lower, but the downstream demand is weaker than that in the earlier stage, and the price of China NBR may be adjusted weakly in the short term.
