I. Trend analysis
According to the data of business associations, the price of domestic cis-butadiene rubber rose slightly this week (5.20-5.24). At the beginning of the week, the price was 11312 yuan/ton, and at the end of the week, the price was 11362 yuan/ton, up 0.44%.
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II. Market Analysis
Petrochemical ex-factory price: This week (5.20-5.24) domestic cis-butadiene rubber petrochemical factory ex-factory price increased by 300 yuan/ton, as of May 24, Daqing Petrochemical cis-butadiene rubber ex-factory price increased by 11500 yuan/ton.
Rubber import and export: China imported 557,000 tons of natural and synthetic rubber (including latex) in April 2019, a decrease of 4.13%. From January to April 2019, China imported 212.8 million tons of natural and synthetic rubber (including latex), an increase of 2.3% over the same period last year.
Raw materials: raw material butadiene prices rose slightly this week, the cost side supports the price of cis-butadiene rubber. According to the business association, butadiene was 8081 yuan/ton at the beginning of the week and 8370 yuan/ton at the end of the week, up 3.58 percent on the whole.
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Demand: According to the statistics bureau, the output of domestic rubber tyres in April 2019 was 73.758 million, down 0.8% from the same period last year; the output of domestic rubber tyres in January-April was 26.633 million, down 3.6% from the same period last year.
3. Prospects for the Future Market
Xu Xiaokun, an analyst with business associations, believes that at present, on the one hand, the price of upstream butadiene has risen slightly, which supports the price of synthetic rubber, on the other hand, the downstream market of rubber is weak, and the overall negative atmosphere for cis-butadiene rubber is formed. In the later period, the market of cis-butadiene rubber will maintain a narrow fluctuation.
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