Promising EPDM Market
Since July 2020, there has been an upsurge in the prices of EPDM products, with the long duration and the large range of price increase. Under the influence of various factors, EPDM prices will still be bullish in the short term. The specific reasons are shown below.
Price trend change
In the past three years, the EPDM market was tepid. However, the EPDM prices were rising after Q3 of 2020.
Since 2017, China’s EPDM prices had been relatively stable, and the fluctuations of prices were not too large. In 2020, affected by the public health event at home and abroad, the EPDM price continued to decline, reaching the bottom in nearly five years in June 2020. Taking PetroChina Jilin Petrochemical 4045 as an example, its price in June 2020 was RMB 13,600/mt, which was relatively low. However, since July 2020, the EPDM price has been rising all the way. In October, the price began to rise in a straight line. As of March 15, 2021, the market price of PetroChina Jilin Petrochemical 4045 was about RMB 24,500/mt, up 80.15% from the low price in 2020. The main reasons are as follows.
