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Dynamic carding of domestic polystyrene butadiene rubber devices in 2019

From 2015 to 2019, the production capacity of domestic polystyrene butadiene rubber (12840, 105.00, 0.82%) remained at 1.7 million tons per year, and the year-on-year fluctuation was zero. The main reason for the slowdown in capacity growth was the capacity utilization rate of the styrene butadiene rubber industry in 2019 How are things waiting? The specific analysis is as follows:

Before 2015, the domestic styrene-butadiene rubber production capacity maintained a growth rate of more than 10%. From 2015 to 2019, the domestic milk polystyrene styrene-butadiene rubber production capacity remained at 1.7 million tons per year, with a year-on-year fluctuation of zero. The fastest growth rate of its production capacity was in 2015. . The main reason for the slowdown is that the domestic styrene-butadiene rubber industry has fierce homogeneity competition and relatively overcapacity, and the industry has entered a trough and a downward trend. Under cost pressure, the capacity utilization rate in the industry hovered between 50% and 60%.

The environmental stability of most styrene-butadiene companies has obviously improved.

In consideration of safety and environmental protection factors, both Qilu Petrochemical and Yangzi Petrochemical have modified the styrene-butadiene rubber plant in 2018. The production of this plant has stabilized in 2019, and the overall operating rate of its styrene-butadiene rubber industry has also increased. In 2019, the annual output of Qilu Petrochemical styrene-butadiene rubber increased by about 67% year-on-year; the annual output of Yangzi Petrochemical styrene-butadiene rubber increased by about 15.5% year-on-year. The styrene-butadiene rubber industry’s output increased by 10.84% ​​year-on-year. It can be said that the operating load of Qilu Petrochemical and Yangzi Petrochemical, which were restored due to environmental protection transformation, has greatly contributed to the production of styrene-butadiene rubber.

The styrene-butadiene industry’s loss limit fell year-on-year, and corporate marginal benefits improved

In 2019, the polystyrene butadiene rubber maintained a narrow range of fluctuations. The mainstream fluctuation range was 10,000-12200 yuan / ton, and the range fluctuation was relatively narrow. In terms of raw materials, taking Sinopec’s East China butadiene prices as an example, the price range is between 8100-12500 yuan / ton and Sinopec’s North China styrene price range is between 7100-9200 yuan / ton. At the end of the first quarter of 2019, the theoretical single ton loss of 1502 styrene-butadiene rubber dropped to two digits, around 50 yuan / ton, of which the average theoretical single ton loss of 1502 from March to June was around 350 yuan.

It can be said that with the overcapacity of styrene-butadiene rubber, in order to have a place in the industry, price competition has caused marginal benefits to continue to hover in negative values. In 2019, the styrene-butadiene rubber industry’s loss limit narrowed year-on-year, but companies such as Lugang, Zhechen, and Fook Rubber have been parked during the year. The Zhejiang Chenyi (Yibang) production plan was initially postponed to the second quarter of 2020, and plans for relocation and transformation of the production facilities of Fook Oak have been made. The output of Shenhua and Weitai styrene-butadiene rubber manufacturers increased year-on-year.

Taken together, the profit and loss level of the domestic polystyrene butadiene rubber industry in 2019 has a sporadic positive value. The cost advantage of the national prefix raw materials is strong, and the production stability is good. Non-national prefix styrene-butadiene rubber production companies use butadiene for external production, but the cost is still relatively pressured. It is difficult to resume production of styrene-butadiene units that are shut down. Some non-national prefix enterprises that use butadiene outside take into account fixed customers and margins. Benefit, the overall production situation is relatively stable. In 2020, the butadiene production capacity will increase by 760,000 tons. The butadiene raw material industry’s availability of butadiene raw materials will increase, and the initiative of non-national leading companies may improve. The output of the styrene butadiene rubber industry will continue to increase.

Translated by Google Translator from http://www.cria.org.cn/newsdetail/52390.html

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