Favorable environment, downstream support, butadiene market price rebounded in February

The domestic butadiene market rebounded sharply in February, especially after the lunar new year. According to the sample data monitored by the business community, the domestic butadiene market price was 6056 yuan / ton at the beginning of the month, and 8235 yuan / ton at the end of the month, with an increase of 35.98% within the month and a year-on-year increase of 32.23%.


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. The butadiene market has changed from the downturn in January to a strong upward trend. Supported by the rising atmosphere in the downstream rubber industry, the butadiene market is expected to be bullish in the short term, the supplier’s price is constantly rising, and the holding companies are obviously waiting for the market to rise, jointly driving the market higher.


In terms of enterprises, Sinopec East China butadiene supply price has increased by 2400 yuan / ton month on month, with 8500 yuan / ton since February 26; Yantai Wanhua 50000 ton / year butadiene extraction unit is in normal operation, and the goods are exported normally, with the price at 8750 yuan / ton as of February 25; Shenhua Ningmei 64000 ton / year butadiene unit is in stable operation, and some goods are exported, with the price at 8510 yuan / ton as of February 26 Fushun Petrochemical’s 160000 T / a butadiene plant is planned to be shut down for maintenance in mid and early April; Jilin Petrochemical’s 190000 T / a butadiene plant is planned to be shut down for maintenance in early June; Zhenhai Petrochemical’s 165000 T / a butadiene plant is planned to be shut down for maintenance around April 5, lasting about 15 days.


External price: as of March 5, the external price of butadiene in Asia rose: FOB Korea closed at 1035-1045 US dollars / ton, up 80 US dollars / ton; CFR China closed at 1075-1085 US dollars / ton, up 80 US dollars / ton. The external price of butadiene in Europe rose: FOB Rotterdam closed at 895-905 US dollars / ton, up 120 US dollars / ton; FD northwest Europe closed at 725-735 euro / ton, up 60 euro / ton.


At present, the high support of production enterprises is expected to be strong in the short term. In March, with the restart of Yangzi Petrochemical’s butadiene plant and the delay of Zhenhai Refinery’s unit maintenance, the reduction of market supply may not be as expected. Business community butadiene analysts expect short-term domestic butadiene market consolidation.

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