The market of SBR fluctuated in a narrow range in November. According to the data monitoring of SunSirs, as of November 25, the price of butadiene benzene 1502 was 10,908 RMB/ ton, down 1.50% from 11,075 RMB/ ton at the beginning of the month; The highest point in the month was 11,075 RMB/ ton, the lowest point was 10,641 RMB/ ton, and the amplitude was 3.91%. At the beginning of the month, the downstream gas buying was sluggish, the ex factory price of SBR 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 SBR 1502 in Qilu/Jihua/Fushun and other markets in East China was between 10,900 yuan and 11,300 RMB/ ton; SBR 1712, the mainstream price was 9,800-10,100 RMB/ ton.

The commencement of SBR industry in November decreased compared with that in October, and the pressure on the supply side of SBR eased. According to SunSirs, Li Changrong's 50,000 t/a styrene butadiene unit will stop on November 4, and will restart in early December; Zhejiang Weitai 100,000 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 SBR, both fell, and the cost fell. According to the monitoring of SunSirs, as of November 25, the price of butadiene was 6,763 RMB/ ton, down 11.05% from 7,603 RMB/ ton at the beginning of the month. As of November 25, the price of styrene was 7,950 RMB/ ton, down 4.31% from 8,308 RMB/ ton at the beginning of the month.

In November, the natural rubber market fluctuated and rose, with stronger support for SBR. As of November 25, the price was 12,016 RMB/ ton, up 4.22% from 11,530 RMB/ 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 SunSirs, 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 SBR.

SunSirs analysts 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 SBR 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 China SBR market will still be difficult to improve in the future.

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