First, the price trend

April 2019 Butadiene Market weakness finishing, business society monitoring shows that the price of butadiene at the beginning of the month is 8155 yuan/ton, the price of butadiene at the end of the month is 7834 yuan/ton, the decline of 3.94% in the month.

Prices are down 23.35% from a year earlier.

Ii. Analysis of influencing factors Products: This month, the domestic butadiene market weak finishing mainly, Sinopec price than the same period last month cut 400 yuan/ton to 8100 yuan/ton, Liaoning Tong chemical bidding floor price cut 600 yuan/ton to 7410 yuan/ton. This month, the supply side of butadiene market slightly supported, is the main reason to boost the market to stop and fall consolidation. Fushun Petrochemical Plant April 8-19th parking maintenance, coupled with the Liao Tong Chemical monthly pipe transmission increase, resulting in the reduction of external sales, while the northern downstream manufacturers just need to fill the warehouse, the market to bring a certain support. But within the month East China spot resources abundant, and late cargo continued to the port, so the market upward resistance is still obvious.

At the end of the month Fushun petrochemical plant resumed export, downstream manufacturers before the appropriate amount of filling positions, the market trading appears to improve, although the broker is stable, but with the stage just need to withdraw from the market, the northeast supply transaction is not smooth, the market atmosphere is still weak. Industrial chain: Butadiene Rubber: Although the day glue has rebounded, but the policy for Butadiene Rubber has suppressed, at the same time weak demand, weak butadiene, lack of confidence also has a restraint, butadiene rubber market presents a weak operation, some of the offer small decline, trading is small. Butadiene Rubber: Domestic butadiene rubber market weak shock market. Merchant offer prices are basically upside down, buyers continue to price purchases, negotiate prices generally upside down, private glue transaction prices are lower. SBS: Domestic SBS Market oil glue, dry rubber channel to change narrow finishing. Oil glue: Stable supply price, local inventory pressure, business pressure to open orders, shipments are not smooth, downstream shoe enterprises consume their own stock.

Dry glue Road Reform aspect: the supply price runs smoothly, the merchant maintains the profit shipment, the downstream road project waits for the fund to be in place, the demand can be the period. Industry: According to business price monitoring, in April 2019, commodity prices rose and fell in the chemical sector a total of 14 kinds of goods, including more than 5% of the total number of goods 8, accounting for the plate of 11.1% of goods monitored; The top 3 commodities were hydrochloric acid (51.06%), TDI (22.62%) , Ammonium chloride (17.79%). A total of 46 items fell in the ring, a total of 14 products fell above 5%, accounting for 19.4% of the number of goods monitored in the sector, and the first 3 of the decreases were formaldehyde (37%) (-19.79%), Trichloromethane (-13.78%) and sulfur (-12.36%).

This month all change to-0.84%.

Third, the forecast of the aftermarket After the market, the positive aspect: the North downstream existence must be just needed; Shandong some private enterprises butadiene device maintenance parking; Synthetic rubber profits are fair. Negative aspects: Lanzhou petrochemical Plant maintenance led to an increase in the residual amount of huanning coal butadiene; the supply of imported goods is still abundant; the Northeast manufacturers plant normal operation, the supply of continuous export; Inner Mongolia Yitai new device has the expectation of releasing production. Although the Northern Downstream festival before the existence of a certain replenishment, but Fushun Petrochemical continued export volume, the market supply end is still under pressure; with the parking and maintenance of Lanzhou petrochemical plant, the surplus of huanning coal butadiene increased, and the short-term domestic butadiene market spot supply has a certain increase in expectations. At the same time, Inner Mongolia Taihua 70,000 tons/year butadiene new device also recently produced production release expectations, coupled with Taiwan, Southeast Asia and Iran supply continued to Hong Kong, domestic butadiene market supply and demand fundamentals continue to be empty, business society butadiene Analysts expect that the short-term domestic butadiene market continues to continue the downward trend, Merchants are advised to pay careful attention to internal and external plate prices and transaction guidelines.

According to Neftegaz. RU Minsk on April 26, Belarus partially resumed deliveries of diesel to Ukraine and Poland.

At present, it has been decided to supply about 32,000 tons of diesel oil to Ukraine, about 8,000 tons of diesel oil to Poland and about 10,000 tons of vehicle gasoline to the Ukrainian market.

Mozyr refinery processes about 18,000 tons of crude oil a day. These processing volumes can create the necessary safety stocks of petroleum products to ensure the domestic market. To some extent, the needs of foreign partners with whom oil products supply contracts have been signed will be met.

At the same time, the refinery output of two Belarusian refineries currently accounts for about 50% of Russia’s pre-supply processing output of low-quality oil.

Belarus Petroleum also reported that it would provide diesel and gasoline to Ukrainian customers in the next three to four days, despite its continued operation under force majeure and difficulties in Russian oil supply.

A representative of Transneft will arrive in Belarus on April 26 to discuss a solution to Russia’s oil supply problem. Following the talks, Belarus looks forward to receiving specific information on the arrival time of “clean” oil, as well as forecasts for the work of the entire oil transportation and refining system.

It is necessary to clean pipelines to Belarus and ensure that clean oil from the Unecha oil pumping station is supplied through pipelines.

According to Bloomberg on April 26, Nigeria National Petroleum Corporation General Manager Baru said that Nigeria plans to increase crude oil production to 4 million barrels a day by 2025 and oil refining to 1.5 million barrels a day. This ambitious goal is to double and double current capacity, respectively.

Nigeria’s crude oil production has been close to a historical high of 2.5 million barrels per day, but due to old equipment, theft and destruction, the current output is only 2.2 million barrels. Similarly, due to poor management, the four state-owned refineries in Nepal are far below the design capacity of 445,000 barrels per day. The world’s largest single refinery invested by Dangert, Africa’s richest man, is being built near Lagos. It is expected to refine 650,000 barrels a day after commissioning, which will help improve Nigeria’s domestic oil production situation.

On April 24, the phthalic anhydride commodity index was 63.75, unchanged from yesterday, down 46.93% from the peak of 120.13 points in the cycle (2012-02-28), and up 31.66% from the low of 48.42 points on January 21, 2016. (Note: Period refers to 2011-09-01 to date).

Recently, the domestic market price of phthalic anhydride has maintained a low trend, the market of phthalic anhydride and phthalic anhydride in eastern China has weakened, downstream factories have just needed to purchase, factory inventory pressure has continued, high-end transactions have been hindered, the mainstream of on-site neighbouring source negotiations is 6500-6600 yuan/ton, and the mainstream of naphthalene source negotiations is 6300 yuan/ton; the mainstream price of phthalic anhydride market in North China is 6400-6600 yuan/ton, and the market weakness is The price of phthalic anhydride in China is stable, the spot supply of phthalic anhydride is normal, the market is not good, and the price of phthalic anhydride is declining.

Recently, the execution price of the upstream product of phthalic anhydride, Sinopec o-phthalic anhydride, is 6700 yuan/ton. The actual market transaction price is 6700 yuan/ton. The quotation is stable and the port market is general. The upstream raw material mixed xylene price is stable, the turnover of phthalic anhydride is general, the stock of phthalic anhydride in port is low, the price of phthalic anhydride is temporarily stable, the cost of imported phthalic anhydride is rising, the actual transaction price is discussed in detail, the upstream price trend is stable, and the market price of phthalic anhydride remains weak. DOP prices in the downstream are lower. Recently, in Zhejiang DOP market, merchants’quotations have maintained 8100-8200 yuan/ton, while downstream prices have slightly declined. Demand for upstream phthalic anhydride is limited. The market price of phthalic anhydride is slightly lower. It is expected that the market price of phthalic anhydride will be around 6500 yuan/ton in the later period.

U.S. President Trump said Monday that Saudi Arabia and other OPEC members could increase production after the end of the U.S. sanctions exemption against Iran by “exceeding” the supply gap created by the decline in Iranian oil exports to the global market after the end of the exemption.

The Trump administration has decided to end a six-month exemption that allows some countries to buy Iranian oil without sanctions from the United States.

“Saudi Arabia and other OPEC Member States will overcompensate for the resulting global supply gap after we fully implement sanctions on Iranian oil exports,” Trump said on Twitter. “