The market for nitrile rubber saw a significant decline in March. According to monitoring by Business Society, as of March 31st, the price was 15850 yuan/ton, a decrease of 9.04% from 17425 yuan/ton at the beginning of the month. In March, the price of nitrile rubber raw materials significantly decreased, and downstream purchases were mostly made according to demand. The market supply was slightly lower in the early stage and stable in the later stage. The listed prices of nitrile rubber enterprises were significantly reduced, and market quotations gradually declined.

In March, the prices of raw materials butadiene and acrylonitrile decreased, and the cost of nitrile rubber significantly decreased. According to the monitoring of Business Society, as of March 31, the price of butadiene was 8551 yuan/ton, a decrease of 11.96% from 9712 yuan/ton at the beginning of the month; As of March 31st, the price of acrylonitrile was 10050 yuan/ton, a decrease of 4.29% from 10500 yuan/ton at the beginning of the month.

The recovery of demand in the downstream product industry of nitrile rubber is slow, with small orders being the main procurement for nitrile rubber, and few market transactions. The demand for nitrile rubber is relatively weak.

Future forecast: Business Society nitrile analysts believe that the current decline in raw material prices is due to a decline in nitrile rubber costs, while downstream demand support is weak. It is expected that the nitrile rubber market will be weak and consolidate in the short term.