Last week (3.22-3.26), the market of NBR was weak and stable. According to the monitoring of SunSirs, as of March 26, the price of NBR was 22,950 RMB/ ton.
On one hand, the domestic ex-factory price of nitrile is raised again by 200-600 RMB/ ton. According to the monitoring of SunSirs, as of March 26, Lanzhou Petrochemical N41E was 19,600 RMB/ ton, 3305E was 21,200 RMB/ ton, 3308E was 21,600 RMB/ ton; as of March 26, Sinopec Xibu nitrile 2665 was 20,200 RMB/ ton, nitrile 3365 was 20,600 RMB/ ton. Butyronitrile manufacturers are generally stable in operation and low in inventory. But on the other hand, the downstream demand is relatively weak, downstream rubber products enterprises purchase more with the use of pick, stock is not much. The upstream and downstream were slightly deadlocked, the market was dominated by merchants, and the market price was generally stable compared with last week. At present, the market offers are around 19,800 RMB/ ton for Lanhua N41, 22,000 RMB/ ton for South Korea LG6250, 19,700-20,000 RMB/ ton for Russia 3365 and 24,000-24,500 RMB/ ton for Nandi 1052.
The price of raw materials is stable and weak, and the cost side is empty. According to the monitoring of SunSirs, as of March 26, the price of butadiene was 8,424 RMB/ ton, down slightly by 0.20% compared with 8,441 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 on one hand, the international crude oil is weak and volatile this week, and there is downward risk on the cost side. In addition, the downstream procurement of NBR is not strong, and the support on the demand side is insufficient. It is expected that China NBR will be weak and fall slightly in the future.
