After experiencing a decline since mid-February, synthetic rubber rebounded at the end of June and early July, but the rebound only lasted for a week or so. According to data monitoring, butadiene rubber rose from 11,183 yuan / ton at the beginning of the month to 11,510 yuan / ton in the middle of the month, an increase of 2.93%; then weakly fell to 11,274 yuan / ton; styrene-butadiene rubber rose from 11,200 yuan / ton at the beginning of the month to In the middle of the month, 11,828 yuan / ton, an increase of 5.61%, after the weak decline to 11,657 yuan / ton. Overall, the synthetic rubber market in July showed signs of weakness. There are three factors that affect the trend of synthetic rubber in July:
First, synthetic rubber has fallen sharply for several consecutive months, and both manufacturers and traders have rebounded their demand. Therefore, petrochemical manufacturers tentatively increased the price of synthetic rubber in July. According to monitoring, in early July, PetroChina and Sinopec raised the price of butadiene rubber and styrene-butadiene rubber by 400-500 yuan/ton, and some traders took the opportunity to rise sharply.
Secondly, the demand for margin-receiving of downstream tire manufacturers has rebounded at the beginning of the month, stimulating the willingness of synthetic rubber enterprises to increase their prices. However, due to the uncertain market prospects, tire manufacturers are not willing to purchase large quantities, and the transactions are mostly small, and the demand is facing the price of synthetic rubber. The strength is weak.
Finally, rubber stocks have decreased slightly, but the base is still large, which is unfavorable for synthetic rubber prices. According to the business community, as of July 10, the Qingdao Free Trade Zone rubber inventory was 270,800 tons, down 8,000 tons from June 15, a decrease of 2.9%. Combined with the above factors, the price of synthetic rubber in July was weak.
On the one hand, on the one hand, the tentative increase of petrochemical manufacturers in the first half of the month is not successful. It has fallen back in mid-July. On July 14, CNPC and Sinopec lowered the ex-factory price of butadiene rubber and styrene-butadiene rubber by 400 yuan/ Tons, traders are falling. On the other hand, July and August are the off-season of the downstream tire factory, and rubber demand will remain depressed. On the whole, the overall situation of the current industrial chain is not optimistic. It is difficult to see a weak and strong situation in July. It is expected that synthetic rubber will continue to decline slightly in the latter part of July, ranging from 300-500 yuan/ton.
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