Recently (2.11-2.23), the market for BR has been weak and slightly declining. According to the commodity market analysis system of SunSirs, as of February 11th, the market price of BR in East China was 14,300 RMB/ton, a decrease of 3.57% from 14,830 RMB/ton on the 11th. The price of raw material butadiene has significantly decreased, and the cost center of BR has dropped significantly; The production of BR remains low, and the pressure on the supply side is relatively small; After the holiday, downstream construction gradually increased, mainly supporting the demand for BR. Recently, the supply prices of Shunding rubber suppliers have been gradually lowered, and the quotes from merchants have been weak and declining. As of February 23, the mainstream quotes for Shunding in Qilu, Daqing, Sichuan, and Yangtze in East China are 14,200-14,550 RMB/ton.

Recently (2.11-2.23), the price of butadiene has significantly decreased, and the cost center of BR has dropped significantly. Recently, due to the expected increase in butadiene supply, downstream inventory, and low production of synthetic rubber, the downward trend in butadiene prices has intensified. According to the Commodity Market Analysis System of SunSirs, as of February 23, the price of butadiene was 11,587 RMB/ton, a decrease of 8.31% from 12,637 RMB/ton on the 11th.

Recently (2.11-2.23), the construction of domestic BR plants has remained at a low level, with overall construction around 61%.

Demand side: Downstream tire production will increase after the holiday, mainly supporting the demand for BR market. As of February 20th, the operating load of semi steel tires in domestic tire enterprises is around 80%; The construction of all steel tires by tire enterprises in Shandong region has slightly increased to around 67% of the load.

Market forecast: From a fundamental perspective, analysts from SunSirs believe that in the short term, the price of butadiene will consolidate weakly, and the cost support of BR will continue to be weak; Post holiday downstream construction will increase; The production of BR remains at a low level, and overall, it is expected that the BR market will consolidate in the later period.

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