The domestic butadiene market rose significantly in the last cycle, and the macro-favorable factors such as tariffs boosted the spot market atmosphere.
Last week, some units were overhauled unplanned and the port supply was tight, which made the butadiene market supply tight. The holders had a strong price-holding mentality, were reluctant to sell and raised prices. The auction prices were also significantly increased last week. The butadiene market heated up rapidly. In the later period, as prices continued to rise, the enthusiasm of downstream companies to enter the market would be significantly reduced, and the overall market price fell slightly. As of May 19, the self-pickup price of the East China market was 10,400-10,700 RMB/ton.
Cost side: The crude oil market rose first and then fell in this cycle, and it rose overall. As of May 15, the settlement price of the main contract of US WTI crude oil futures was US$61.62/barrel. The settlement price of the main contract of Brent crude oil futures was US$64.53/barrel.
Supply side: The listed price of butadiene in Sinopec's sales companies is 11,100 RMB/ton, an increase of 1,800 RMB/ton from last week.
Fushun Petrochemical's 160,000 tons/year butadiene unit is operating normally, there is no export plan today, and the quotation is suspended.
Dongming Petrochemical's 50,000 tons/year butadiene unit is operating normally, 196 tons are exported, and the base price is 11,100 RMB/ton.
Satellite Chemical's 90,000 tons/year butadiene unit is operating normally, and the price is 11,300 RMB/ton.
|
Enterprise |
Price (RMB/ton) |
Production capacity |
Device dynamics |
|
Fushun Petrochemical |
There is no export plan today, quotation is suspended |
160,000 tons |
Work starts normally, supply is normal |
|
Dongming Petrochemical |
196 tons of export, with a minimum price of 11,100 yuan/ton |
50,000 tons |
Work starts normally, supply is normal |
|
Satellite Chemistry |
Execution 11,300 yuan/ton |
90,000 tons |
Work starts normally, supply is normal |
Demand side: According to the commodity market analysis system of SunSirs, as of May 19, the market situation of butyl rubber in East China was stagnant. The price of butyl rubber futures was weak, the supply price of butyl rubber was temporarily stable, and merchants adjusted slightly. At present, the mainstream prices of butyl rubber in Daqing, Yangzi and Qilu are 12,700~13,000 RMB/ton; some private brands are around 12,650~12,750 RMB/ton.
Market forecast: As the butadiene market rose rapidly in the early stage, the market trading atmosphere began to weaken near the end of last week. At present, the overall supply and demand lack obvious positive support. It is expected that the market will remain stable but weak in the short term, and there is some room for prices to fall.
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