SBR bullish atmosphere rich supply-side price information concerned

1. Long congregation SBR Valuation

Product	Area	October 7 Day Valuation	October 8 Valuation	Change	Price Change (%)	Unit
1502	Shandong	–	14200-14400	–	–	Yuan / ton
1712	Shandong	–	12700-12900	–	–	Yuan / ton

2. Corporate dynamics

Festival returned in the petrochemical, oil prices in early SBR temporarily stable prices, Qilu 1502 price 13500-13600 yuan / ton, Qilu 1712 at 12,200 yuan / ton, the market speculation rose rich atmosphere, the recent price rise is expected to continue, concerns tomorrow sales company dynamics.

Device: Fushun Petrochemical 200,000 tons / year plant May 17 onwards downtime, restart time continued to delay; Lanzhou Petrochemical 100,000 tons plant parking transformation, 50,000 tons plant capacity 1500; Lu Hong Kong unit 6.9 across the board from the date of parking; Jilin Reduction petrochemical plant production; Zhejiang morning stop line device, line producing 1502; Nantong Shenhua 180,000 tons / year plant September 20 routine maintenance about 20 days time. Fu rubber Petrochemical 100,000 tons / year butadiene plant planned in late October, parking overhaul two months.

Factory	Dynamic devices
Qilu Petrochemical	150,000 tons / year butadiene unit line 1502 two-wire 1712; 100,000 tons device two lines 1502
Jilin Petrochemical	150,000 tons unit load shedding production , A-line production 1500E, B / C two-line production 1502,1502 E
Nantong Shenhua	180,000 tons production line unit 1502, and the other a 1712 oil-filled cable, the other a line 1502E, 1723 to switch production, 60% of the overall operating
Lanzhou Petrochemical	100,000 tons plant parking transformation; 50,000 tons / year plant capacity 1500E
Yang Jin Rubber	100,000 tons means two lines 1502
Tianjin Lugang	100,000 tons device 6.9 devices across the board from the date of parking
Hangzhou, Zhejiang Morning	100,000 tons / year butadiene unit tier parking, front-line production 1502, started under load
Fu Rubber Chemical	100,000 tons / year butadiene unit double production 1502

Sales Company	Product of the models offer (yuan / ton)
Sales Company	1500	1502	1500e	1502e	1712
Sinopec North	–	13500	–	–	12200
Petroleum South	–	13600	–	13600	–
North China Petroleum	13600	13600	13600	13600	12200
PetroChina East	13600	13600	13600	13600	12200
Sinopec South	–	13400 (Fu oak)	–	–	12200 (Fu oak)
Nantong Shenhua (listed)	–	16000	–	–	14000

3. Market dynamics

SBR market today offer much, the cost of support, the industry is expected to continue bullish, guess for the price of oil continues to increase petrochemical market offer to maintain high prices. Some households during the festival billing plan shipments of foreign intentions, but lower than a stock before the holiday, while the intermediate traders intention to acquire high-priced goods, the overall trading were dull.

Market	As of the morning of the region offer (yuan / ton)
Market	1502	1712
North Market	14300-14500	12900-13000
Shandong market	14300-14500	12700-13000
East China market	14200-14600	12900-13000
Fujian market	14200-14500	–
Guangdong market	14200-14500	–

4. Market outlook forecast

Raw material butadiene prices high, the cost of supporting strong; limited due to profit, private SBR manufacturers maintain low production scheduling or parking state, month SBR manufacturers selling pressure is not; intermediate active market speculation, profits up 600 yuan / ton more recently raised the expectations for the price of petrochemical greater attention tomorrow messages. But noted that the downstream plant stocking completed this month, in the middle traders in stock, traded under high pressure gradually prominent, long-term operation need to be cautious.