At the beginning of November, the price of NBR increased significantly. According to the monitoring of SunSirs, the price of NBR was 18,200 RMB/ ton on November 1 and 19,100 RMB/ ton on November 6. The price of NBR increased 4.95% in just six days.

First of all, at the beginning of the month, the ex-factory price of NBR manufacturers increased significantly. In just six days, the ex-factory prices of some manufacturers increased twice, driving up the market sentiment. According to the monitoring of SunSirs, the listing price of NBR in Lanzhou Petrochemical Company was increased 700 RMB/ ton on November 2; at present, N41E reported at 16,500 RMB/ ton, 3305E at reported 17100 RMB/ ton, 3308E at reported 17,700 RMB/ ton; Ningbo Shunze NBR ex-factory price increased 400 RMB/ ton, the current nitrile 28 series reported at 17,800 RMB/ ton, 3355/ 3365/ 3345 was quoted 18,000 RMB/ ton, 3380 was 18,200 RMB/ ton.

On November 5, the listed price of NBR in Lanzhou Petrochemical Company was increased 500 RMB/ ton; at present, N41E was quoted at 17,000 RMB/ ton, 3305E was at 17,600 RMB/ ton, 3308E was at 18,200 RMB/ ton; the ex-factory price of Ningbo Shunze NBR was increased 300 RMB/ ton, and the current nitrile 3355 factory price was 18,300 RMB/ ton.

Secondly, the price of raw materials remains high, and the cost side is still strongly supported. According to the monitoring of SunSirs, as of November 6, the butadiene price was 9,142 RMB/ ton; as of November 6, the ex-factory price of acrylonitrile Shanghai Secco was 9,200 RMB/ ton. The prices of raw materials are in the high stage.

Finally, the epidemic situation in foreign countries is becoming more and more serious, and the demand gap of medical nitrile latex gloves is huge, which leads to the high demand of nitrile rubber latex and the difficulty to find bulk goods in the market, which forms a strong support for the whole nitrile market.

Market forecast: SunSirs NBR analysts believe that the high price of raw materials, coupled with strong downstream demand, NBR prices will continue to remain high in the short term in China.

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