According to the Commodity Market Analysis System of Shengyi Society, the domestic butadiene market has fluctuated upward in this cycle. From November 10th to November 17th, 2025, the price of butadiene will increase from 6900 yuan/ton to 6966.67 yuan/ton, a rise of 0.97%. The domestic butadiene market has fluctuated upward in this cycle, with lower prices in the early stage, attracting some downstream buyers to replenish inventory at low prices, driving the trading atmosphere in the spot market to improve. The spot market price has slightly rebounded, and refineries generally have a strong mentality of raising prices. It is difficult to find low-priced sources in the market, and the overall market price is on the rise. However, due to the weak demand from downstream terminals, the increase is limited.
Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of November 14th, the settlement price of the December WTI crude oil futures contract in the United States was $60.09 per barrel. The settlement price of Brent crude oil futures for January contract is $64.39 per barrel.
Supply side: The listed price of butadiene for various sales companies of Sinopec is 7000 yuan/ton.
Demand side: According to the commodity market analysis system of Shengyi Society, the butadiene rubber market has slightly increased. On the one hand, the price of raw material butadiene has weakened and decreased, causing a significant shift in the cost center of butadiene rubber; Part of the pre maintenance equipment has restarted operation, and the production of butadiene rubber has slightly increased, resulting in a slight increase in supply pressure; On the other hand, downstream tire production has slightly rebounded, providing support for the demand for butadiene rubber, but resisting high priced sources. The basic operation of butadiene rubber is weak. As of November 17th, the market situation of Shunding rubber in the northwest region has slightly increased, and the futures price of Shunding rubber has fluctuated narrowly. Business offers have slightly increased by around 50-100 yuan/ton. At present, the mainstream prices for butadiene rubber in Sichuan, Dushanzi, and Lande are 10600-10800 yuan/ton.
Market forecast: The trading situation in the spot market is still good in the near future, and refineries have a strong mentality of raising prices. However, the supply performance is still relatively loose and the external market is weak, with limited upward momentum in the market. It is expected that the butadiene market will mainly experience strong fluctuations in the short term, with a focus on downstream procurement demand.