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China NBR Market Fell slightly in May

June 3, 2021

In May, the market price of NBR declined slightly. According to the monitoring of SunSirs, the price of NBR was 21,166 RMB/ ton at the beginning of the month and 20,800 RMB/ ton at the end of the month. At the end of the month as a whole, it fell by 1.73% compared with the beginning of the month.

Although there was little pressure on the supply side of NBR in China, and the price of NBR in Lanhua increased slightly, the demand side was still weak, and the market price of NBR fell in May. It is understood that the 15,000 ton nitrile unit of Lanhua in China has been under maintenance in May, and the normal operation started at the end of this month. The pressure of nitrile supply in the market is not big, which has a certain support for the price of nitrile. In May, the ex-factory price of domestic Lanhua nitrile also slightly increased 200 RMB/ ton. According to the monitoring of SunSirs, as of May 31, Lanzhou Petrochemical N41E reported at 17,900 RMB/ ton, 3305E reported at 19,000 RMB/ ton, 3308E reported at 19,900 RMB/ ton. In May, India made a final anti-dumping decision on China related NBR, and the export market of NBR was slightly hindered. In addition, the low demand of domestic environmental protection inspection for some downstream construction was weak, and the main offer of some merchants was lowered at the beginning of the month.

The price of raw materials has risen substantially, and the cost has a certain support. According to the monitoring of SunSirs, the price of butadiene was 6,787 RMB/ ton at the beginning of the month and 7,378 RMB/ ton at the end of the month, with an overall increase of 8.71%.

SunSirs NBR analysts believe that the overall pressure on the supply side of NBR is not big at present, and the cost side is rising significantly, so it is expected that China NBR will rise slightly in the future.