The nitrile rubber market slightly declined in September. According to the Commodity Market Analysis System of Shengyi Society, as of September 28th, the price was 16600 yuan/ton, a decrease of 0.30% from 16650 yuan/ton at the beginning of the month.
In September, the cost support for nitrile rubber was weak, and the increase in nitrile rubber production increased the pressure on the market supply side; In addition, during the traditional peak season downstream, the production of rubber hoses and insulation foam industries has significantly increased, which supports the nitrile rubber market. The comprehensive impact has led to a slight consolidation of the nitrile rubber market in September. As of September 28th, the mainstream market price for Lanhua 3305 in East China is around 16300-16400 yuan/ton; The mainstream market price for Nandi Nitrile 1052 is around 17500~17600 yuan/ton; The mainstream market price for nitrile 2665 in Russia is around 15900-16000 yuan/ton.
In September, the domestic nitrile rubber plant started construction and increased, and the Shunze nitrile plant has recently restarted; As of September 28th, the overall production of nitrile rubber in China is around 80%.
In September, the price of raw material butadiene slightly decreased and the price of acrylonitrile slightly increased, resulting in weak cost support for nitrile rubber. According to the Commodity Market Analysis System of Shengyi Society, as of September 28th, the price of butadiene was 9023 yuan/ton, a decrease of 3.15% from 9316 yuan/ton at the beginning of the month; As of September 28th, the price of acrylonitrile was 8033 yuan/ton, an increase of 1.26% from 7933 yuan/ton at the beginning of the month.
In September, the construction of downstream rubber hoses for nitrile rubber in China increased from 40% at the beginning of the month to a low of around 5.8%, and the construction of rubber insulation and foaming increased from 3.2% at the beginning of the month to around 4.9%. The demand for nitrile rubber needs to be supported.
Market forecast: Business Society’s nitrile analyst believes that the cost support for nitrile rubber is currently weak; Downstream production has increased but remains at a low level, providing essential support for nitrile rubber; The supply of nitrile rubber has increased compared to the previous period, and it is expected that the nitrile rubber market will fluctuate and consolidate in the later period.