August China ESBR Operating Rate Inched Down

Up to the end of August, China’s ESBR producers totaled 11, with the capacity of 1,470kt/a. There were all China’s ESBR producers being investigated.

The monthly operating rate of ESBR industry was 58% in August, down 3.66% M-O-M, but up 5.64% Y-O-Y. The operating rate at Nanjing Yangzi Petrochemical and Rubber, PetroChina Fushun Petrochemical and Shen Hua Chemical Industrial dropped. Though the operating rate at PetroChina Jilin Petrochemical rose, the overall operating rate declined. The units at Tianjin Lugang Petroleum Rubber, Hangzhou Yibang Rubber and Fujian Fuxiang Chemical maintained shutdown.

In August, the operating rate at Nanjing Yangzi Petrochemical and Rubber, PetroChina Fushun Petrochemical and Shen Hua Chemical Industrial dropped M-O-M. The operating rate at PetroChina Jilin Petrochemical rose M-O-M. The operating rate at Sinopec Qilu Company and PetroChina Lanzhou Petrochemical was stable. The units at Tianjin Lugang Petroleum Rubber, Hangzhou Yibang Rubber and Fujian Fuxiang Chemical maintained shutdown.

This month, China’s ESBR market prices showed an “N”-shape movement. The rebound in the prices mainly benefited from the increase in butadiene prices. However, NR prices at the SHFE hovered at lows, and end users had weak interest in procurement. Thus, the increase in ESBR prices was curbed. Moreover, butadiene prices increased greatly, and styrene prices hovered at highs. Therefore, the benefit at China’s ESBR producers greatly dropped.

In September, the monthly average operating rate of ESBR industry may remain at about 58%. The operating rate at Shen Hua Chemical Industrial and Zhejiang Vitile Rubber will decrease. The operating rate at Nanjing Yangzi Petrochemical and Rubber will rise. Other ESBR units will have no changes. Thus, the operating rate of China’s ESBR units will be largely unchanged. The units at Tianjin Lugang Petroleum Rubber, Hangzhou Yibang Rubber and Fujian Fuxiang Chemical will maintain shutdown.

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