BEIJING—China's synthetic rubber prices have surged since the beginning of October, helped by a post-lockdown economic recovery.
Between early October and Oct. 21, styrene butadiene rubber (SBR) and polybutadiene rubber (PBR) producers raised the "ex-works prices" five-fold, to $224-$269 per metric ton, according an Oct. 28 report by consulting firm Sublime China Information Co.
By Oct. 21, market prices of emulsion styrene butadiene rubber closed at $1660, up 46 percent compared to 2020's lowest prices and up around 6 percent year-on-year.
The market price for high CIS polybutadiene rubber closed at $1570-$1600 per ton, up 46 percent compared with the lowest price in 2020 and down 6 percent year over year, SCI said.
The supply of Chinese-made SBR and PBR was "relatively sufficient" throughout the first nine months of the year, and imported SBR and PBR resources "arrived at ports constantly."
The consulting firm linked the fourth quarter surge in prices to the economic recovery in the post-COVID era and an increase in demand and capital.
Based in Zibo, Shandong, SCI is a Chinese commodity market consulting firm, providing information for energy, chemicals, metal and agriculture industries.