In September, the styrene butadiene rubber market rose in the early stage, but fell from its high point at the end of the month. According to the Commodity Market Analysis System of Business Society, as of September 28th, the price of butadiene benzene 1502 was at 13200 yuan/ton, an increase of 9.17% from 12091 yuan/ton at the beginning of the month, and a decrease of 3.18% from the high point of 13633 yuan/ton within the month.

In the first half of the month, the overall prices of raw materials butadiene and styrene have significantly increased, and the cost support for styrene butadiene rubber is strong. The factory price of styrene butadiene rubber has continuously increased significantly, and the market price of styrene butadiene rubber has risen; Starting from the middle of the month, the price of raw material styrene began to decline, and the support for styrene butadiene slightly weakened. However, downstream tire factories started operating steadily. In addition, tire enterprises are centralized in dual sector stocking, and demand for styrene butadiene rubber forms support. The styrene butadiene rubber market is operating at a high level; At the end of the month, on the one hand, the price of raw material styrene continued to decline, and the price of butadiene also began to decline. The cost support for styrene butadiene rubber once again weakened. On the other hand, approaching the end of the dual reserve period, market transactions were light, and the main suppliers of styrene butadiene rubber continuously lowered their factory prices. As a result, the high market price of styrene butadiene rubber declined. As of September 28th, the Northeast Warehouse of Jilin Petrochemical Butadiene 1502, a subsidiary of PetroChina Northeast Sales Company, has raised its price to 13000 yuan/ton, and the domestic market quotation range for Butadiene Rubber 1502 is around 13000 to 13400 yuan/ton.

In September, there was a slight fluctuation in the start of the butadiene styrene rubber plant, and the supply of butadiene styrene increased slightly in the second half of the month.

In September, the price of butadiene, the raw material for styrene butadiene rubber, rose sharply and then stabilized, while the price of styrene rose first and then fell. The overall cost center of styrene butadiene rubber in September shifted upwards.

According to the Commodity Market Analysis System of Business Society, as of September 28th, the price of butadiene was 8710 yuan/ton, an increase of 14.21% from 7626 yuan/ton at the beginning of the month; As of September 28th, the price of styrene was 9183 yuan/ton, an increase of 4.99% from the beginning of the month at 8746 yuan/ton, and a decrease of 5.97% from the month’s high of 9766 yuan/ton.

In September, the natural rubber market first rose and then fell, but overall it was lower than the price level of styrene butadiene rubber, which had a negative impact on styrene butadiene rubber. According to the Commodity Market Analysis System of Business Society, as of September 28th, the price was at 12540 yuan/ton, an increase of 1.24% from 12386 yuan/ton at the beginning of the month, and a decrease of 2.64% from the high point of 12880 yuan/ton within the month.

Demand side: The overall stability of tire production in September has continued to demand support for rubber, and tire companies are stocking up before holidays in the middle of the month, resulting in a certain increase in rubber demand. It is understood that as of late September 2023, the operating load of all steel tires for rubber tire enterprises in Shandong region is 6.4%; The operating load of semi steel tires for domestic rubber tire enterprises is 7.2%.

Future Market Forecast: Business Society analysts believe that downstream construction is basically stable, and the supply of styrene butadiene rubber is basically stable. However, the cost side has slightly decreased in the short term, but may fluctuate significantly later due to the impact of crude oil prices. Overall, it is expected that the styrene butadiene rubber market will remain high and weak in the short term. If international crude oil continues to rise significantly after the holiday, styrene butadiene rubber may rise again due to cost support.