NBR Market Was Buoyant in the Off Season

The special-purpose rubber market was volatile lately. The NBR market also went upwards, following price hikes in the butyl rubber market and the EPDM market. This round of price increases pushed up the NBR prices further. The spread between NBR and butadiene reached RMB 10,000/mt or above.

On July 16, after more than 8 months of investigation, the Ministry of Commerce preliminarily ruled that there was dumping of NBR originating in South Korea and Japan, and the domestic industry of NBR was substantially damaged, and there was a causal relationship between the dumping and the substantive damage. The Ministry of Commerce decided to carry out interim anti-dumping measures by levying margin (12%-30%) according to the Anti-dumping Regulations. In addition, NBR units in China underwent maintenance in succession, leading to a tight product availability. Thus, players were bullish on the NBR market. On July 20, PetroChina Lanzhou Petrochemical raised the ex-works price of NBR by RMB 200-500/mt. Other producers mostly lifted the price by RMB 500/mt accordingly. Ningbo Shunze Rubber uplifted the price by RMB 1,000/mt. Because of the tight supply this week, Ningbo Shunze Rubber lifted the price further by RMB 300/mt. PetroChina Lanzhou Petrochemical changed the posted price to fixed price and raised the price by RMB 200-300/mt this week.

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