According to the data monitoring of SunSirs, the domestic SBR market declined in May, with the price at 13,591 RMB/ ton at the beginning of the month and 12,708 RMB/ ton at the end of the month, with an overall decline of 6.5%.
In May, the domestic market of SBR was lower, and the manufacturer's offer was significantly reduced 900 RMB/ ton. As of May 31, the ex-factory price of Jihua SBR 1502 of PetroChina Northeast was 12,700 RMB/ ton. Within the month, the trading offers were adjusted at a low level, and the market inquiries were not active. In May, the start-up of units in the SBR industry increased, and the pressure on the supply side increased. Yangzi Petrochemical's 100000 ton/ year SBR plant was restarted from May 19, and Fushun Petrochemical's ton/ year SBR plant was restarted from May 20; Qilu, Jihua, Lanhua and other units are in normal operation.
Raw material butadiene rose sharply, styrene prices fell, and cost support was weak. According to the monitoring of SunSirs, as of May 31, the butadiene price was 7,378 RMB/ ton, up 8.71% from 6,787 RMB/ ton at the beginning of the month; As of May 31, the price of styrene was 9,533 RMB/ ton, down 2.23% from 9,750 RMB/ ton at the beginning of the month.
The price of natural rubber decreased slightly, which had an impact on the short position of SBR. According to the monitoring of SunSirs, as of May 31, the domestic natural rubber price was 12,850 RMB/ ton, down 4.15% from 13,407 RMB/ ton at the beginning of the month.
SunSirs analysts believe that the lower price of natural rubber and the restart of Yangtze and Fushun SBR units will have a negative impact on SBR. It is expected that SBR will continue to be weak in China in the later period, but the decline will continue to narrow.
