SunSirs: China NBR Market is Weak and Declining

Recently (11.1-11.13), the NBR market has been weak and declining. According to the Commodity Market Analysis System of SunSirs, as of November 13th, the price of NBR was 15,112 RMB/ton, a decrease of 0.91% from 15,062 RMB/ton at the beginning of the month. The prices of raw materials such as butadiene and acrylonitrile have increased, while the cost of NBR has slightly increased; Recently, low level inquiries for downstream construction have been light, and there have been few market transactions. The quotation of production enterprises is temporarily stable, and the overall market price of NBR has slightly decreased except for some brands. As of November 13th, the mainstream market price of Lanhua Nitrile 3305 in East China was 14,000-14,100 RMB/ton; Shunze nitrile 3355 mainstream reported at 14,300-14,500 RMB/ton; Nandi Nitrile 1052 is priced at 17,300-17,500 RMB/ton.

Recently (11.1-11.13), the prices of raw materials butadiene and acrylonitrile have slightly increased, and the cost of NBR has slightly increased. According to the Commodity Market Analysis System of SunSirs, as of November 13th, the price of butadiene was at 9,546 RMB/ton, an increase of 0.32% from the 9,516 RMB/ton at the beginning of the month; As of November 13th, the price of acrylonitrile was 9,937 RMB/ton, an increase of 3.92% from 9,562 RMB/ton at the beginning of the month.

The downstream rubber pipe construction of domestic NBR remains at a low level of around 60%, and inquiries about NBR are cautious. The trading atmosphere on the market is slightly stagnant, and the NBR market is weakening.

SunSirs nitrile analysts believe that the current supply of NBR is relatively sufficient, and downstream inquiries are light. It is expected that the NBR market will be weak and consolidate in the short term. In the later stage, the Nandi nitrile plant will restart operation, and the supply of NBR will continue to be sufficient, which will have a negative impact on the NBR market.

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