First of all, the supply side of the domestic key antioxidant enterprises in January to July basically maintain normal start, only a few enterprises for a short period of time maintenance, but no obvious impact on the market supply, the market supply is sufficient.
Second, on the downstream demand side, the tyre industry started to improve only marginally. In 2018, the operating rate of the entire tire industry became extremely complex. On the one hand, due to factors such as domestic environmental protection, construction was extremely abnormal, and opening and stopping within a month became very common. On the other hand, the Shanghai Cooperation Summit was held in June in Qingdao, and the whole May and the middle and early June of Shandong Province tire enterprises were affected in varying degrees. Third, the domestic and foreign economic situation is more complicated this year, tire sales pressure has increased dramatically, manufacturers and province-level agents have high inventories. In January to June, the national output of tire outer tyres was 435.472 million, the same as last year. Period compared with only 0.3 increase.
Figure 1 comparison of tire production for 2017-2018
Third, the trend of raw materials is weak. The market price of raw material aniline was 9150 yuan / ton, 2500 yuan / ton lower than 11650 yuan / ton at the beginning of the year. Other raw materials such as acetone and MIBK also weakened in varying degrees compared with the beginning of the year.
As a big supplier of rubber antioxidants, Shenyang Sunnyjoint Chemicals Co., Ltd. will follow the reason of market undulate.