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Returning from the "May 1st" holiday, the styrene butadiene rubber market started a unilateral downtrend.
Looking at the market outlook, under the pressure of the three major negative factors of supply increase, natural rubber drag, and weak demand, the industry's mentality is relatively bearish and transaction resistance is greater.
Large market supply
High market supplyhigh market supply"In mid-to-late May, the styrene butadiene rubber plants of Yangzi Petrochemical and Fushun Petrochemical restarted operation successively, and the industry operating rate increased slightly from last month, and the market supply has increased.
It is understood that the annual production capacity of domestic styrene butadiene rubber is about 1.
Market supply has increased while downstream demand has been lacklustre.
Natural rubber plummeted
Natural rubber plummetednatural rubber plummeted"Currently, the supply of natural rubber has entered a period of concentrated and heavy volume, and a large number of new rubber will be listed, resulting in a sharp decline in the futures market, a plummeting market, and subsequent declines.
In April, global natural rubber production increased by 22.
At the same time, the financial attributes of rubber are relatively prominent and relatively sensitive to the macro environment.
Downstream construction declines
Downstream construction declines, downstream construction declinesMore than 70% of styrene butadiene rubber is used in tire manufacturing.
Domestically, tire manufacturers have been shipping slowly, with high inventories, and their willingness to purchase goods has declined significantly.
Many factors such as the resumption of production at overseas tire factories and high freight rates will also squeeze China's tire exports.
Under internal and external pressure, some tire companies have begun to actively control production.
On the whole, the short-term domestic styrene butadiene rubber supply and demand fundamentals are unlikely to be greatly improved, and the superimposed demand side support is weak, and the styrene butadiene rubber market is likely to remain weak.
