Recently (7.8-7.17), the market price of Shunding rubber has slightly declined. According to the commodity market analysis system of Shengyi Society, as of July 17, the market price of Shunding rubber in East China was 15160 yuan/ton, a decrease of 0.79% from 15280 yuan/ton on July 8. The price of raw material butadiene has fallen slightly from a high level; Shunding rubber production continues to remain low; Downstream tire production remains stable, but overall inquiries are cautious and slightly resistant to high priced sources. Shunding rubber futures are consolidating at a high level, and market trading is flat.
Recently (7.8-7.17), the price of butadiene has fallen from a high level, and the cost center of butadiene rubber has slightly decreased, but overall support is still strong. According to the Commodity Market Analysis System of Shengyi Society, as of July 17th, the price of butadiene was 13125 yuan/ton, a decrease of 4.37% from 13725 yuan/ton on July 8th.
Recently (7.8-7.17), the construction of domestic butadiene rubber plants has remained at a low level. As of July 17th, the construction of butadiene rubber in China is around 60%.
Demand side: Downstream tire production is currently stable, and demand is supported by the urgent needs of the butadiene rubber market. Downstream inquiries are resistant to high priced sources, and butadiene rubber prices are consolidating at a high level. As of July 17th, the operating load of semi steel tires in domestic tire enterprises is around 7.9%; The operating load of all steel tires in tire enterprises in Shandong region is about 6.20%.
Market forecast: From a fundamental perspective, analysts from Shengyi Society believe that the high price of raw material butadiene will fall, and there is still support for a slight decrease in the cost center of butadiene rubber; Shunding rubber production remains at a low level and the market supply is tight; In recent times, downstream tire companies have started production steadily, but there is still a high sentiment towards Shunding rubber. Overall, the Shunding rubber market has remained strong in the near future with the support of costs and low production. It is expected that the market for butadiene rubber will mainly experience a narrow consolidation in the later stage.
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