According to the Commodity Market Analysis System of Shengyi Society, the domestic butadiene market first fell and then rose during this cycle, with an overall downward trend. From November 3 to November 10, 2025, the price of butadiene decreased from 7133.33 yuan/ton to 6866.67 yuan/ton, a decrease of 3.74%. The overall performance of the domestic butadiene market in this cycle is still weak. With the continuous decline in prices, it has attracted some downstream buyers to replenish inventory at low prices, driving the trading atmosphere in the spot market to improve. The spot market prices have slightly rebounded. However, due to the weak demand from downstream terminals and the bearish supply performance, the overall performance of the butadiene market is still weak under the dual negative impact.
Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of November 7th, the settlement price of the December WTI crude oil futures contract in the United States was $59.75 per barrel. The settlement price of Brent crude oil futures for January contract is $63.63 per barrel. During this round of price adjustment cycle, the crude oil price market first rose and then fell. At the beginning of the cycle, China and the United States held trade negotiations, and market risk appetite, coupled with the tense situation in South America, once supported the rise of crude oil prices; However, in the later stage of OPEC+’s new round of production increase, the market is still concerned about the long-term risk of oversupply, and the regional situation has eased. In addition, the weakening of US demand and US tariff issues have dragged down global economic and demand expectations, leading to a decline in international oil prices.
Supply side: The listed price of butadiene for various sales companies of Sinopec is 6900 yuan/ton.
On the demand side: According to the commodity market analysis system of Shengyi Society, the market situation of butadiene rubber in the northwest region is consolidating at a low level. The futures price of Shunding rubber fluctuated weakly, and the merchant’s offer was slightly adjusted. As of November 10th, the mainstream prices for butadiene rubber in Sichuan, Dushanzi, and Lande are 10300-10600 yuan/ton.
Market forecast: With the restart of some domestic facilities in October, the overall supply side is relatively loose, and the spot market prices are generally weak, attracting some downstream actively to enter the market and replenish inventory, but the overall demand is still biased towards rigid demand. The overall market expectation is still weak. With the intention of purchasing for essential needs, the spot market is operating weakly. The market lacks favorable factors to boost it, and the weak demand side is expected to lead to a weak and volatile trend in the butadiene market in the short term, with a focus on downstream procurement demand.
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