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Sunday, July 3, 2022

China: Domestic butadiene market has rapidly declined (2.25-3.1)

First, the price trend

This week, the domestic butadiene market fell rapidly. According to the monitoring of the business community, the price of butadiene was 9456 yuan/ton at the beginning of the week, and the market price of butadiene was 9212 yuan/ton on the weekend, which was 2.58% during the week.

Second, the analysis of influencing factors

Products: The domestic butadiene market fell this week, Sinopec’s supply price was stable, Liaotong Chemical restarted export on February 28, the bidding price was 8510 yuan / ton, and the bidding price of Fushun Petrochemical was 8500 yuan / ton. As the auction of Fushun Petrochemical was higher last week, it boosted the bidding price of the manufacturers at the beginning of this week, but the high price was not good, the supply flow increased the market cautious atmosphere, and the market turned down during the week. At the same time, with the normal restart of Liaotong chemical equipment, the sales volume outside the spot increased, coupled with the abundant supply in East China, the pressure on the supply side continued to increase, which brought a short-slung to the market. The short-term market decline has aggravated the downstream bearish expectations. Although the synthetic rubber market performance is acceptable, it is also difficult to support the butadiene market. In terms of price, the price sent to Shandong was 9000-9100 yuan/ton, down 800-900 yuan/ton; East China was at 9300 yuan/ton, down 600-700 yuan/ton, basically digesting last week’s gains. In terms of equipment, Inner Mongolia Jiutai Energy’s 70,000 tons/year butadiene oxidative dehydrogenation unit has not been started yet, and the manufacturer plans to delay the driving time until the end of March. Shandong Weite Chemical’s 60,000 tons/year extraction unit stopped after a short run in January, and the restart time was unknown. Shandong Huayu 60,000 tons/year butadiene plant was shut down for maintenance on February 18, and it is planned to park for about 30 days.

Industry chain: styrene-butadiene rubber: Although natural rubber is slightly stronger, the supplier’s gains are less than expected, and the industry itself is cautious after the previous increase. The styrene-butadiene rubber market has a volatile pattern, and the offer is in a narrow range. A small amount of transactions. Butadiene rubber: domestic butadiene rubber market volatility. The merchant’s offer is near the ex-factory price. The overall inquiry atmosphere in the market is not good. The negotiated price is suppressed at the ex-factory price, and the spot transaction volume is small. SBS: The domestic SBS market has a small amount of oil glue, and the dry rubber is actually lower, and the market turnover is dull.

Third, the market outlook

The high price was not good, and the supply of goods was still abundant this week. The butadiene market quickly fell back after a brief rebound. Next week, domestic and foreign manufacturers of equipment will operate normally. External sales will increase compared with this week. However, downstream demand is still difficult to follow up obviously, and the short-term continuous decline has led to cautious inquiry, weak supply and demand. The butadiene analysts of the business community expect that the domestic butadiene market will continue to be in a short-selling atmosphere next week, but the synthetic rubber is currently in a good trend, or there will be some bottom support. It is recommended to pay attention to the butadiene manufacturer price and transaction guidance.

Translated by Google Translator from http://www.cria.org.cn/newsdetail/47845.html

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