Recently, the domestic butadiene market has risen sharply, and the external quotations of Sinopec’s sales companies have "three consecutive increases" within three days. According to the monitoring data of the business agency, the average price of domestic butadiene producers after the National Day (10.9) is 6,338 yuan/ton. As of today (10.22), the average price of domestic butadiene producers is 8,176 yuan/ton, and the increase in the cycle is as high as 28.99%, the price rose by 30.66% month-on-month and fell by 21.65% year-on-year. The current price is still 1.64% lower than the highest price at the beginning of the year (8312 yuan/ton).
The main reasons for the butadiene price increase this time are the following aspects. First, the continuous increase in external prices is driven by the continuous increase in external disk prices. Second, the major production company Sinopec Sales Company has repeatedly increased the ex-factory supply prices to drive the market. Third, individual manufacturers Wuhan Ethylene Plant Parking maintenance affects social inventories. Fourth, the strong rise of natural rubber futures drives up the price of butadiene downstream synthetic rubber products.
First of all, looking at the external market, starting from July 2020, the closing price of butadiene in Asia, Europe and the United States has risen intermittently. By September 2020, the number of days in which the price of the internal and external market has risen will reach 12 days. Entering October, the closing price of the external disk has risen for 12 days. On October 7th after the holiday, the price of butadiene in Asia was stable: FOB Korea closed at 795-805 US dollars/ton, CFR China closed at 795-805 US dollars/ton. European butadiene prices rose: FOB Rotterdam closed at 605-615 US dollars/ton, up 10 US dollars/ton; FD Northwest Europe closed at 475-485 euros/ton, stable. As of the close of yesterday (10.21), the price of butadiene in Asia has increased: FOB Korea closed at US$935-945/ton, an increase of US$50/ton; CFR China closed at US$945-955/ton, an increase of US$55/ton. European butadiene prices rose: FOB Rotterdam closed at 635-645 US dollars/ton, up 10 US dollars/ton; FD Northwest Europe closed at 495-505 euros/ton, stable.
Secondly, since October 15th, the external quotations of Sinopec's sales companies have continued to rise, and the implementation is 7,100 yuan/ton. On October 19, the external quotations of Sinopec sales companies have increased by 400 yuan/ton, and the implementation is 7,500 yuan/ton; October 20 The quotation increased by 500 yuan/ton and the price was implemented at 8,000 yuan/ton; on October 21, the external supply prices of Sinopec’s sales companies rose again by 600 yuan/ton to 8,600 yuan/ton. On October 20, Wuhan Ethylene 130,000 tons/year unit of Sinopec Huazhong Sales Branch was shut down for maintenance. Northeast production enterprises have no external supply for the time being, and it is said that the current transactions are all at high prices. The continuous increase in the prices of manufacturers has prompted traders to follow suit and rise, and traders are currently out of stock waiting for price hikes.
Once again, due to the positive impact of the rising natural rubber futures, the price of butadiene downstream synthetic rubber has risen significantly, and the entire industry chain has been positively linked, which has pushed the butadiene market to rise repeatedly.
For styrene-butadiene rubber, the domestic supply price of styrene-butadiene rubber increased, and the market price followed the increase. The styrene-butadiene market offer followed the increase in the supply price, and the industry's position was overstated; actual trading followed up generally, and the intermediaries and downstream market entered the market to maintain lower prices, and the actual orders were biased. Just need to buy mainly.
Butadiene rubber, mainstream sales companies once again increased the supply prices of butadiene styrene and butadiene rubber by 500-600 yuan/ton. The downstream end of the terminal has little intention of accepting orders with a wide price increase, and real orders are mostly concentrated in the trade link.
Nitrile rubber, nitrile industry players are optimistic about their attitudes, and domestic nitrile manufacturers have low inventories, Nandi's installations are about to be overhauled, sporadic factories are environmentally friendly and limited production, and the market atmosphere around nitrile continues to prefer.
At present, butadiene market prices continue to rise, external prices continue to rise at a high level, the domestic market has risen sharply, natural rubber futures are strong, and upstream and downstream products continue to rise strongly. Business agency butadiene analysts predict that the domestic butadiene market in the short term High-level finishing is the main.
Source: Chemical Network
