Price Trend
Recent domestic butadiene market consolidation mainly. As of January 23, the price of butadiene was 10,378 yuan per ton, according to business association monitoring.

II. Analysis of Influencing Factors

Products: At present, the domestic butadiene market has improved, downstream traders just need to replenish their warehouses before the festival, northern manufacturers have a better shipment situation, boosting market mentality, middlemen are reluctant to sell at low prices, offer is pushed up, and there is a certain bullish expectation for the next node of the manufacturer’s supply price, but some downstream traders are still cautious, the market turnover is general. Butadiene market in Shandong Province has an obvious mentality of low price and sells sparingly. The downstream market just needs to replenish its warehouse, which boosts the mindset of the industry and keeps the market quotation in order. Eastern China butadiene market atmosphere improved, downstream delivery mentality is still cautious, but the middleman offer is relatively strong, market offer consolidation. Asian closing price of butadiene, FOB Korea average offer $1145-1153 per ton; CFR China average offer $1195-1203 per ton.

Industry chain: styrene-butadiene rubber: demand itself is not good, and natural rubber futures also declined, coupled with the impact of supplier policy, the market of styrene-butadiene rubber shows a weak operation. Although some traders have no intention of upside-down shipment, it is difficult to increase the actual price. Trading is basically near the factory price, and a small number of deliveries. Cis-butadiene rubber: Domestic cis-butadiene rubber market fell. Businessmen offer near the factory price, the atmosphere of inquiry is not good, sporadic buyers buy at a reduced price, and spot turnover is scarce. SBS: The center of gravity of oil glue in domestic SBS market has been lowered, and the dry rubber track has been changed to run smoothly. Oil glue: With the decline of PetroChina’s supply price, businesses are cautious in issuing orders, and the purchase of new orders from downstream shoe material enterprises is weak. At the same time, Sinopec’s F875 pre-sale in South China is stable. In the aspect of dry rubber road reform, the supply price is stable, and the supplier controls the supply, the amount of business orders is limited, and the atmosphere of downstream stock entering the market is insufficient.

3. Future Market Forecast

On the positive side, the external price is firm; the supply side of butadiene is tight; on the negative side, the downstream synthetic rubber market is insufficient to follow up. Business Association butadiene analysts expect that the short-term domestic butadiene market will maintain a consolidation trend, focusing on market turnover.