In the global market, the price of the Silicone Rubber witnessed a notable decline in April. This decline in the Silicone Rubber price is majorly attributed to the decrease in the price witnessed from the major exporter China and USA particularly. However, in the downstream market, the Automobile sector witnessed a subdued demand in April. With respect to the decline in the overall economic performance, the consumption of the Silicone Rubber affected in the various sectors like Automobile, Aerospace, and the Construction sector. However, the market witnessed an ample of inventories due to which lower biddings observed from the suppliers led to lower accumulation of the Silicone Rubber. These factors have simultaneously played a key role in influencing the pricing dynamics of the Silicone Rubber in the global market.

In the US market, Silicone Rubber prices have declined this month, coinciding with a decrease in the price of Silicon metal in the feedstock market. The automotive sector faced a downturn in April, with automobile sales decreasing by 8.4% compared to March and by 1.8% compared to April 2023. The manufacturing sector also encountered challenges, experiencing a decrease in new orders for the first time in 2024. While output prices rose at a slower pace, input costs increased, indicating ongoing pressure on selling prices. Additionally, in the aerospace market, Boeing faced challenges with lower 737 deliveries and issues with the 737-9, contributing to a decline in overall market conditions. Consequently, these factors collectively influenced the decline in Silicone Rubber prices this month.

In the Chinese market, despite a decrease in the price of its major feedstock, Silicone Rubber prices have declined this month. However, the downstream automobile sector, it is anticipated by CPCA that particularly in new-energy vehicle sales, is expected to showcase significant growth, surging by 33% year-on-year to reach 800,000 units in April. This growth aligns with China's efforts to promote electric and hybrid vehicle adoption. Additionally, Air China's order for 100 units of the domestically produced C919 passenger plane demonstrates confidence in China's aerospace capabilities. However, the construction sector is underperforming, as indicated by the lower performance in the SZSE Construction index. Despite a slight dip in the official NBS Manufacturing PMI, the sector remained in expansion territory, with continued output expansion and increased buying levels. These dynamics collectively influenced Silicone Rubber demand, contributing to the observed price decline this month.

As per the ChemAnalyst, the price of the Silicone Rubber is expected to showcase a stable to bearish trend in the upcoming sessions in US market. This anticipation in the Silicone Rubber price is primarily linked to the overall downstream market sentiments which is currently underperforming. The suppliers are currently witnessing the ample of inventories due to which the surplus in the supply and the demand ratio is observed. These factors are expected to influence the price of the Silicone Rubber in the upcoming sessions.