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Saturday, June 3, 2023

Domestic butadiene market decline

First, the price trend

This week, the domestic butadiene market fell mainly. The monitoring of the business community showed that the domestic market price of butadiene was 8,540 yuan/ton at the beginning of the week, and the domestic butadiene price was 8,151 yuan/ton at the weekend and 4.55% during the week. The price fell by 22.96% compared with the same period of last year.

Second, the analysis of influencing factors

Products: This week, the domestic butadiene market rose and then fell, maintaining the overall downward trend. Sinopec’s supply price continued to drop by RMB 500/ton to RMB 8,500/ton; Fushun Petrochemical’s bidding price rose first and then fell, and the price was at RMB 7,000/ton, which was stable in the same period last week. Last weekend, the low-cost supply of low-cost goods in the Northeast stimulated the enthusiasm of the downstream replenishment, coupled with some speculation and bargain-hunting behaviors. At the beginning of this week, the transaction price of the northeast manufacturers was wide, and the market trading was slightly improved. However, as the export of the factory continued to increase, and the cans in East China were still under pressure, the market cooled rapidly after a short-term improvement. As the supply of the northeast manufacturers continued to decline, the market quickly fell. As of Thursday, the price sent to Shandong was 7,700 yuan / ton, down 300-400 yuan / ton from last week; East China reference 8100-8200 yuan / ton, down 200 yuan / ton. The market has been fluctuating frequently in the near future, and the downstream enquiries have been cautious, and the actual orders have been weak.

Industry chain: styrene-butadiene rubber (11695, 55.00, 0.47%): Due to the weakness of natural rubber, and because butadiene continues to be weak, domestic styrene-butadiene rubber market is weak, and operators are cautious and demand performance is still poor. The overall transaction is small. In addition, due to the upcoming reduction of value-added tax, the industry’s offer for some of the late delivery of styrene-butadiene rubber is lower. Butadiene rubber: The domestic butadiene rubber market is showing shocks. Affected by the downward adjustment of the VAT rate, some merchants offered a profit of 100-200 yuan/ton, and the trading volume was not much. SBS: Domestic SBS market oil gel, dry rubber narrowly arranged.

Third, the market outlook

Short-term domestic butadiene market supply and demand fundamentals continue to be empty, leading to a weak market. Although Fushun Petrochemical has a short-term parking plan in the later period, the export is basically normal in the next cycle, and Liaotong Chemical has resumed export sales. The increase in spot supply in the north, coupled with the high level of cans in East China, is difficult to support the fundamentals of supply and demand in the butadiene market. The diene analysts expect that the downward trend of the domestic market will continue in the short term. It is recommended to pay attention to the export situation of the manufacturers and the transaction guidelines.

Translated by Google Translator from http://www.cria.org.cn/newsdetail/48259.html

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