The rise of BR narrowed in March. According to the monitoring of SunSirs, the price of BR was 13,000 RMB/ ton at the beginning of March and 13,575 RMB/ ton at the end of the month, with an overall increase of 4.42% at the end of the month compared with the beginning of the month. In March, the price of BR increased 300 RMB/ ton. As of March 31, the price of BR of Sinopec North China was stable. At present, Qilu BR reported 13,700 RMB/ ton, and North China warehouse raised the price; Yanshan BR reported 13,620 RMB/ ton, and North China warehouse raised the price.

In March, the demand for BR increased, and the operating rate of downstream tire factories increased greatly. The operating rate of all steel tire enterprises increased from 58.73% at the end of February to 78% at the end of March, and that of semi steel tire enterprises increased from 4.66% at the end of February to 73% at the end of March, which was strongly supported by the demand.

The supply of BR decreased in March. Supply side slightly tighter, forming a positive support for BR.

In March, the price of butadiene, the raw material of cis-1,4-butadiene, fell, and the cost side was short. According to the monitoring of SunSirs, the price of butadiene was 8,368 RMB/ ton at the beginning of the month and 7,860 RMB/ ton at the end of the month, with an overall decrease of 6.08%.

In March, the supply and demand side of BR was still relatively strong. However, due to the impact of the decline of raw materials and the resistance of the downstream to high prices, businesses took profits and the growth of BR narrowed.

SunSirs analysts believe that the current international crude oil is facing the top of periodic demand, it is difficult for the demand to increase significantly in the short term, or there is a downward trend, and the impact of the cost side is short; however, the current supply side of BR is reduced compared with the previous period, and some manufacturers also have maintenance plans in April and may. On the whole, the pressure on the supply side of BR is not big, and it is expected that China BR will be stable in the later stage, if the maintenance efforts of enterprises increase, BR will still rise.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.