Raw Materials and Spot Prices - As of June 5, the market price of butadiene in Shandong is 9400 CNY/ton, an increase of 50 CNY [1] - The CIF price of butadiene in China is 1150 USD/ton, unchanged [1] - The market price of styrene-butadiene rubber (BR9000) in Shandong Qilu Petrochemical is 11400 CNY/ton, unchanged [1] - The price difference for styrene-butadiene rubber-Taiwan mix is -2100 CNY/ton, an increase of 100 CNY [1] - The basis is 440 CNY/ton, an increase of 135 CNY [1] Production and Operating Rates - In May, China's butadiene production was 448,900 tons, a decrease of 1.3% month-on-month [2] - The production of styrene-butadiene rubber was 143,300 tons, an increase of 17.9% month-on-month [2] - The production of semi-steel tires was 54.15 million units, a decrease of 2.2% month-on-month, and a year-on-year decrease of 1.46% for January to May [2] - The production of all-steel tires was 11.82 million units, a decrease of 9.6% month-on-month, and a year-on-year decrease of 3.1% for January to May [2] - As of June 5, the operating rates for the butadiene industry is 68%, a decrease of 1.8% [2] - The operating rate for high-styrene butadiene rubber is 67.1%, a decrease of 8.8% [2] - The operating rate for semi-steel tire manufacturers is 64.1%, a decrease of 11.7% [2] - The operating rate for all-steel tire manufacturers is 55.7%, a decrease of 8.5% [2] Inventory - As of June 4, the port inventory of butadiene is 27,000 tons, a decrease of 1,500 tons [3] - The internal inventory of styrene-butadiene rubber is 28,300 tons, an increase of 200 tons, a month-on-month increase of 0.71% [3] - The inventory of traders is 5,680 tons, a decrease of 680 tons, a month-on-month decrease of 10.69% [3] Market Insights - According to Longzhong Information on June 5, the total inventory of butadiene in the domestic sample decreased slightly, down 1.66% from the previous week [4] - The inventory of sample enterprises increased by 2.07% from the previous week, with some enterprises undergoing maintenance, keeping inventory low [4] - However, there are increases in inventory at some enterprises in East and South China, affecting the overall inventory of sample enterprises [4] - The port inventory of samples decreased by 5.26%, influenced by limited ship arrivals [4] Analysis - On June 5, the rubber sector followed commodity fluctuations, with the main contract for synthetic rubber BR2507 closing at 10,960 CNY/ton, a decrease of 0.27% from the previous settlement price [5] - In early June, domestic butadiene maintenance volumes remain high, but supply is expected to recover in the latter half of the month [5] - Overall production in June is unlikely to increase significantly, with short-term butadiene transactions being poor [5] - The tariff issue on automobiles and auto parts remains unresolved, posing challenges for Japanese and Korean automotive and tire manufacturing, which may lead to a decline in butadiene demand [5] - With the gradual recovery of Asian ethylene maintenance facilities and the expected arrival of Iranian butadiene in mid-June, China's butadiene import volume is anticipated to be substantial [5] - The supply-demand balance for butadiene in June is expected to be loose, with significant supply declines in the styrene-butadiene rubber industry, but still showing year-on-year growth [5] - The tire order situation is not optimistic, with high inventory levels dragging down tire operating rates [5]
合成橡胶:BR跟随商品波动
Jin Tou Wang·2025-06-06 03:05