SunSirs: China SBR Market has Seen a Slight Increase Recently

Recently (1.17-1.23), the market for SBR has remained stable with a slight increase. According to the Commodity Market Analysis System of SunSirs, as of January 23, the price of SBR in the East China market was 15,466 RMB/ton, an increase of 0.87% from 15,333 RMB/ton on January 17. The price of raw material butadiene continues to rise, while the price of styrene slightly decreases, providing support for the cost of SBR. As the Spring Festival approaches, downstream stocking is gradually coming to an end; The production of SBR is basically stable. The supply price of SBR has been raised, and as of January 23, the mainstream market price of 1502 SBR in Fushun, Jihua, Yangzi, and Qilu in East China is around 15,400-15,650 RMB/ton.

Recently (1.17-1.23), the raw material butadiene has slightly increased and the price of styrene has slightly decreased, which still supports the cost of SBR. According to the Commodity Market Analysis System of SunSirs, as of January 23, the price of butadiene was 12,662 RMB/ton, an increase of 1.60% from 12,462 RMB/ton on January 17; As of January 23rd, the price of styrene was 8520 RMB/ton, a decrease of 1.66% from 8,664 RMB/ton on January 17th.

Recently (1.17-1.23), the construction of domestic SBR plants has started at around 72%.

Supply and demand side: As the Spring Festival holiday approaches, downstream businesses are gradually taking a break, and the stock of SBR is gradually decreasing, resulting in sluggish market transactions.

From a fundamental perspective, analysts from SunSirs believe that the current cost of SBR will have stable support in the short term; The production of SBR is basically stable, and there is not much pressure on the supply side; As the Spring Festival approaches, downstream demand is gradually weakening, which will weaken the support for SBR. Overall, supported by costs and supply, it is expected that the high consolidation of the SBR market before the holiday will be the main factor.

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