Business agency: SBR market fluctuated in a narrow range in November

The market of styrene butadiene rubber fluctuated in a narrow range in November. According to the data monitoring of the business community, as of November 25, the price of butadiene benzene 1502 was 10908 yuan/ton, down 1.50% from 11075 yuan/ton at the beginning of the month; The highest point in the month was 11075 yuan/ton, the lowest point was 10641 yuan/ton, and the amplitude was 3.91%. At the beginning of the month, the downstream gas buying was sluggish, the ex factory price of styrene butadiene rubber was significantly lowered, and the offer of merchants fell with each other. With the weakening of supply side pressure and the increase of downstream inquiries, the SBR market fluctuated steadily and slightly. As of November 25, the quotation of styrene butadiene rubber 1502 in Qilu/Jihua/Fushun and other markets in East China was between 10,900 yuan and 11,300 yuan/ton; In 1712, the mainstream report was 9800~10100 yuan/ton.

The commencement of styrene butadiene rubber industry in November decreased compared with that in October, and the pressure on the supply side of styrene butadiene rubber eased. According to the business agency, Li Changrong’s 50000 t/a styrene butadiene unit will stop on November 4, and will restart in early December; Zhejiang Weitai 100000 t/a styrene butadiene unit will be shut down for maintenance on November 20, and the maintenance is planned to last one month. Shenhua Chemical’s 180,000 t/a styrene butadiene unit is planned to reduce its load to 20% to 30% in mid December;

In November, the prices of butadiene and styrene, the raw materials of styrene butadiene rubber, both fell, and the cost fell. According to the monitoring of the business community, as of November 25, the price of butadiene was 6763 yuan/ton, down 11.05% from 7603 yuan/ton at the beginning of the month. As of November 25, the price of styrene was 7950 yuan/ton, down 4.31% from 8308 yuan/ton at the beginning of the month.

In November, the natural rubber market fluctuated and rose, with stronger support for styrene butadiene rubber. As of November 25, the price was 12016 yuan/ton, up 4.22% from 11530 yuan/ton at the beginning of the month.

Demand side: The commencement of tires in major downstream consumer industries in November was slightly lower than that in October. According to the business community, the commencement of all steel tires in Shandong in the middle of November was around 5.0%, and the commencement of semi steel tires was 5.9% (the commencement load in the middle of October was 5.2% and 6.5% respectively), which had weak support for styrene butadiene rubber.

Future market forecast: analysts from the business community believe that the supply side pressure eased in November, and Shenhua plans to significantly reduce the negative operation in December. It is expected that the supply side pressure of styrene butadiene rubber will drop again later; But the price of raw materials is low; If there is no bright spot on the demand side, it is expected that the styrene butadiene rubber market will still be difficult to improve in the future.