ESBR Industry Operating Rate Analysis
By the end of January 2019, there were 11 ESBR producers in China, with the total capacity of 1,470kt/a. All the producers were monitored and studied by SCI. Hereinto, 2 producers located in North China, with the capacity of 350kt/a; 4 producers located in East China, with the capacity of 480kt/a; 2 producers located in South China, with the capacity of 150kt/a; 2 producers located in Northeast China, with the capacity of 340kt/a; 1 producer located in Northwest China, with the capacity of 150kt/a.
The monthly operating rate of the ESBR industry was 57.97%, down 2.7% M-O-M but up 4.67% Y-O-Y. Operating rates at PetroChina Jilin Petrochemical and PetroChina Lanzhou Petrochemical trended down. Zhejiang Vitile Rubber shut down the unit at the end of the month. The units at Hangzhou Zhechen Rubber, Tianjin Lugang Petroleum Rubber and Fujian Fuxiang Chemical remained shut.
ESBR prices firstly increased and then dropped. In early January, NR prices at the SHFE and butadiene prices increased, boosting the SBR prices. End users with urgent demand replenished stocks, and marketing companies raised the supply prices. However, sales were not good, and butadiene prices weakened. Players lacked confidence with the weakening trading atmosphere. Market offers dropped. So did the supply prices. In late January, some players sold goods at supply prices, but the trading atmosphere was still soft.
The units at Hangzhou Zhechen Rubber, Tianjin Lugang Petroleum Rubber and Fujian Fuxiang Chemical will remain shut. Shen Hua Chemical Industrial lowers the operating rate. Zhejiang Vitile Rubber will restart the unit in mid-February. Overall, the operating rate of the ESBR industry is estimated at 53% next month.
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