In June, the domestic butadiene market fell to the bottom, breaking through the new low of the year. According to the monitoring price of business agency, the domestic butadiene market price was 4140 yuan / ton at the beginning of the month, and 3456 yuan / ton at the end of the month, with a decrease of 16.51% during the month and a decrease of 58.85% compared with the same period last year.

In June, the weak downward trend of domestic butadiene market continued, and the arrival of ocean going ships was abundant. Although there was a certain demand for butadiene in the downstream factories of Shandong Province, the market was still weak under the influence of abundant supply of tank farms. Some northeast spot resources were not traded smoothly, and the prices of manufacturers kept falling under pressure, and the market focus fell with the overall situation. Recently, the external market has been in a low level, Sinopec’s butadiene supply price has been lowered, and Shenhua Ningxia coal and Yangba butadiene plants have been restarted in the middle and late June, adding to the expected arrival of European ships. As a result, the supply side of the domestic butadiene market continues to increase. Although the start-up of major downstream industries remains relatively high, it is difficult to reverse the downward trend of butadiene market rapidly under the pressure of supply side. In the internal and external market are not clear news guidance, butadiene market continued to low range finishing.

In terms of enterprises, Sinopec East China butadiene supply price was adjusted from 900 yuan / ton to 3600 yuan / ton on a month-on-month basis; Huajin butadiene plant in North China was in stable operation. As of June 29, the bottom bid price was 3210 yuan / ton, the transaction price was 3216 yuan / ton, and the total transaction volume was 260 tons in the month; Sinopec 200000 tons / year butadiene unit was shut down for maintenance on May 9, and the shutdown device was maintained within the month with planned weight The start-up time may be in July; Shenhua Ningxia coal’s 64000 T / a butadiene plant will be shut down for maintenance around May 5 and restart on June 22, with the price of 2610 yuan / T as of June 30; the butadiene plant of Dalian Hengli 140000 tons / year is in stable operation, with the listing price of 3310 yuan / ton as of June 30, down 470 yuan / ton compared with the same period of last month.

In terms of industrial chain, downstream SBR: the domestic SBR market fell first and then rose in June. In view of the fact that the market situation of styrene butadiene in late May remained depressed and the raw material butadiene market was running weakly, the styrene butadiene production enterprises had marginal profits, had high enthusiasm to start operation, and the contradiction between supply and demand was intensified. Therefore, at the beginning of the month, the sales companies successively decreased the ex factory price of styrene butadiene, and the market increased the price in a narrow range around the supply price after the fall, and tentatively delivered goods. Since the middle of June, although the fundamental improvement is limited and the negative factors are still obvious, Shanghai Rubber and its spot stock have strong support for styrene butadiene rubber. In addition, the related products of cis-1,4-butadiene rubber plant maintenance news speculation, the supplier performance is strong, and gradually increase the price of styrene butadiene, but due to the drag of raw materials and demand, the increase is relatively limited; traders are cautious, continue to increase the price, and the actual high price transaction resistance Obviously.

CIS polybutadiene rubber: in June, the domestic market price of cis-1,4-polybutadiene rubber fell first and then rose. At the beginning of June, the pressure of the contradiction between supply and demand intensified, and the market inversion intensified, and the supply price gradually dropped to around 7400 yuan / ton. Since August 8, the price of cis-1,4-polybutadiene started to rebound. Sinopec North China took the lead in the rise of 100 yuan / ton. The inverted trend of the market gradually changed, and the companies gradually turned to offer for price increase. Subsequently, with the follow-up of downstream procurement and the support of the price difference between cis-1-butadiene and natural rubber, the market turned to an upward trend. At the end of June, the maintenance news of cis-1,4-polybutadiene units such as Yanshan Petrochemical and Qilu Petrochemical Co., Ltd. was hyped. The ex factory supply price of cis-1,4-polybutadiene was raised again to around 8200 yuan / T. the market also maintained the trend of price increase, and the premium range was larger than that in the earlier stage.

According to the price monitoring of business agency, in June 2020, there were 40 kinds of commodities in the list of commodity price rise and fall in the chemical industry sector, of which 18 commodities increased by more than 5%, accounting for 20% of the total number of commodities monitored in this plate; the top three commodities were hydrogen peroxide (32.19%), ethylene (24.98%) and sulfur (24.05%). There were 43 kinds of commodities with a decrease of more than 5%, accounting for 17.8% of the total number of monitored commodities in the sector; the top three products were butadiene (- 16.51%), chloroform (- 13.04%) and acetic anhydride (- 12.50%). This month, the average rise and fall was 0.97%.

In the future, with the consolidation of butadiene in the low-end price range for a long time, the downstream profits improved significantly, boosting the relatively high start-up, and there was a certain bottom support for the butadiene market in terms of demand. However, in the second quarter, imports of butadiene were abundant. From mid to late June, with the restart of Shenhua Ningmei, Yangba and Sinopec units in early July, the domestic supply continued to increase, and the short-term market fundamentals remained under pressure. From the end of the third quarter to the fourth quarter, there are still 430000 T / a units of Baolai petrochemical, Sinopec, Quanzhou petrochemical and Yantai Wanhua with a total of 430000t / A. supply pressure may become normal and there is no obvious improvement in fundamentals. Under the boost, butadiene analysts of business community predict that the domestic butadiene market in July will continue to fluctuate in the bottom range, and it is suggested to pay attention to the latest prices and costs of internal and external plates Hand in the situation guide.