In the first half of 2020, the price of accelerator CBS showed a trend of volatility and decline, mainly due to the impact of public health incidents, the hindered export and weak domestic demand, and the intensified competition in the domestic accelerator CBS market. As of June 18, Zhuo Chuang calculated that the average price of accelerator CBS in the first half of the year was 17,937 yuan/ton, down 20.9% year-on-year.

The price of the anti-aging agent 6PPD showed a trend of falling first and then rising. The price drop in the first five months was mainly due to the impact of public health incidents in the middle of January to May, the hindered export and the weak domestic demand, and the intensified competition in the anti-aging agent 6PPD market; and 5 After mid-month, the price of raw material MIBK continued to rise and put pressure on the cost of antioxidants, and antioxidant companies increased the price of 6PPD antioxidants due to cost pressure. As of June 18, Zhuo Chuang calculated that the average price of the anti-aging agent 6PPD in the first half of the year was 15,990 yuan/ton, down 10% year-on-year.

In terms of accelerators, in the first half of the year, the overall start-up of accelerator enterprises was low, and accelerator M enterprises in some areas were in a state of shutdown for a long time, while downstream sulfenamide accelerators maintained order-based production. Due to the large proportion of the export of accelerators, the export of accelerators was blocked under the influence of public health incidents. Export-oriented enterprises reduced the load to prevent inventory pressure, resulting in a decline in the overall supply of accelerators. Zhuo Chuang statistics CBS Production may drop by about 15% year-on-year.

In terms of antioxidants, after the Spring Festival, the overall supply of antioxidants was relatively sufficient, but under the influence of public health incidents, downstream demand continued to be sluggish, and the inventory of antioxidants companies was under pressure. After April, under the influence of rising prices of raw materials, acetone and ketone, which put pressure on costs, antioxidant companies were forced to limit their prices under cost pressures. After entering May, with the rapid increase in the cost of antioxidant raw materials, antioxidant companies gradually restricted production, and even staged shutdowns, resulting in a decline in the overall supply of antioxidants in the first half of the year.

Domestically, Zhuochuang Information monitors that the average operating load of all-steel tires from January to June 2020 has fallen by 12.88 percentage points from the same period last year, and the average operating load of semi-steel tires has fallen by 14.88 percentage points from the same period last year. Among them, the cumulative production of all-steel tires from January to June 2020 fell by 14.50 percentage points from the same period last year.

Regarding accelerators, the main factors that determine whether the supply of accelerators will increase in the second half of the year are domestic demand and exports. However, due to the limited benefits brought by domestic demand and exports, Zhuo Chuang believes that the overall supply of accelerator companies may not change much from the first half. As far as antioxidants are concerned, due to the high cost pressure caused by the increase in the prices of antioxidants in the second quarter, the overall supply of antioxidants in July-August is limited. Especially under the influence of the price of acetone starting to fall, antioxidant companies may maintain order-based production. After September, as the sensitivity of demand increases, and the impact of cost changes decreases, the supply of antioxidants may increase.

On the whole, the price of rubber additives in the second half of the year is still showing an uncertain trend. Among them, the price of accelerators may maintain a low level of consolidation, while the short-term price of antioxidants is still in a situation where the pressure on the cost side is still high. However, subject to weak downstream demand and the return of raw material prices, the price of antioxidants may show a rational decline after August.