In March, the domestic butadiene market fell after a stalemate. According to the sample data monitored by the business community, the domestic butadiene market price was 8368 yuan / ton at the beginning of the month and 7860 yuan / ton at the end of the month, with a decrease of 6.08% and a year-on-year increase of 53.28%.
In February, domestic bulk commodities went through a cycle of sharp rise. With the favorable environment, the international crude oil price continued to rise, saving the butadiene market which started at a low level in January 2021. By March, crude oil and bulk commodities had a poor trend. Although the external quotations of major producers were firm, the market was weak and the market turned down. With the further opening of the supply side, Liaotong chemical and Fushun Petrochemical are exporting. In the last week at the end of the month, the prices of domestic production enterprises have been widely reduced, and the market has rapidly turned into a downward channel.
In terms of enterprises, Sinopec East China butadiene supply price has been reduced by 1200 yuan / T month on month, implementing 7300 yuan / T; Yantai Wanhua 50000 T / a butadiene extraction unit is in normal operation, and the source of goods is in normal export, with the price of 7500 yuan / T; Shenhua Ningmei 64000 T / a butadiene unit is in stable operation, and some of the sources are exported, with the price of 1 It is planned that Fushun Petrochemical’s 160000 T / a butadiene unit will be shut down for maintenance in the middle and early April, and some of the inventory will be exported; sipang Petrochemical’s 100000 t / a oxidative dehydrogenation unit will be shut down for maintenance on March 27, and the restart time is expected to be in the middle and early April, so it is recommended to continue to pay attention; Zhenhai Refining and chemical’s 165000 T / a butadiene unit will be shut down for maintenance until the end of May, and the time will be shortened It lasted for about 15 days. Sinopec Wuhan Petrochemical Co., Ltd. added 60000 T / a butadiene extraction unit, which started operation on March 27, and some goods were sold out.
External price: as of March 31, the external price of butadiene in Asia was stable: FOB Korea closed at US $1025-1035 / T; CFR China closed at US $1065-1075 / T. The external price of butadiene in Europe was stable: FOB Rotterdam closed at USD 1045-1055 / T; FD closed at EUR 795-805 / T in northwest Europe.
At present, there is still good profit support in the second half of April for the maintenance of some downstream synthetic rubber plants. In terms of bad news, sufficient supply of goods will still affect the domestic butadiene market in a short time. Business community butadiene analysts expect short-term domestic butadiene market consolidation.
| PVA |