Last week (3.15-3.19), the price of NBR went up. According to the monitoring of SunSirs, as of March 19, the price of NBR was 22,950 RMB/ ton, up 0.88% from 22,750 RMB/ ton at the beginning of the week.
Last week, the factory price of domestic Lanhua NBR increased by 500 RMB/ ton again. According to the monitoring of SunSirs, as of March 19, Lanzhou Petrochemical N41E was 19,400 RMB/ ton; 3305E was 20,700 RMB/ ton; 3308e was 21100 RMB/ ton. Manufacturers started stable, low inventory, NBR prices continued to high. At present, the market offers are around 19,800 RMB/ ton for Lanhua N41, 23,500 RMB/ ton for South Korea IG6250, 19,700-20,000 RMB/ ton for Russia 3365 and 24,000-24,500 RMB/ ton for Nandi 1052.
The overall price of raw materials is stable, and the cost side has little influence. According to the monitoring of SunSirs, as of March 19, the price of butadiene was 8,441 RMB/ ton, down slightly 0.07% compared with 8,446 RMB/ ton at the beginning of the week.
SunSirs NBR analysts believe that the overall pressure on the supply side of NBR is not big, but the international crude oil fell sharply on March 18, and there is a downward risk on the cost side. In the short term, China NBR offer may have a narrow callback.
