Downstream rubber market higher butadiene bottomed out quick rebound

Mid-June, by the outer disk, driven by sharply higher and the soaring price of naphtha, as well as several sets of butadiene centralized maintenance, downstream synthetic rubber enterprise market heating up the good news of the stimulus, domestic butadiene prices fell 4 months later, out of the woods, quickly rebounded and rose sharply, becoming the largest varieties of recent chemical price rises. Insiders predicted that by the shortage of supply and demand impact the butadiene market in the short term will continue to maintain strong

The outer disk is substantially higher domestic prices to follow suit

Demand to support international naphtha prices rose sharply since June, and quickly reached a high point. From June 29, Asian naphtha prices from $ 749.5 (CFR, Japan; t price, the same below) quickly soared to $ 820 on July 9, within 10 days, soared about 10 percent. Of naphtha boom led to olefin products, plate prices rose rapidly, especially butadiene prices have been rising.

June 20, Formosa Petrochemical Mailiao plant power failure resulting in unplanned shutdowns of the ethylene cracker, the company is 450,000 tons / annual production capacity of three butadiene plant shutdown, about 3,000 tons of butadiene to postpone the factory. This message has rebounded sharply accelerated butadiene prices at home and abroad. , The Asian butadiene price from $ 1 850 in mid-June (CFR, Northeast Asia; t price, the same below) Along the way, rose to $ 2,350 on July 6, or more than 27%.

External disk drive, mid-June, rising prices of domestic butadiene. Rose rapidly from mid-June, 15,000 yuan / ton to 20,000 yuan / ton in July 9, just half a month, prices rose more than 5000 yuan / ton, or more than 30%, to become the recent chemical price rises varieties. As of July 17, butadiene market prices continue to rise, the East China market offer price of about 20,500 yuan / ton; North China market offer price 20000-20500 yuan / ton; in Shandong Province at about 20000-20300 yuan / ton.

Analysis of the industry, overwhelmed by the butadiene prices rebounded Another important reason is that the early decline is too large due to Previously, the butadiene price in Asia has for four consecutive months and continued to fall, dropped by about 55% compared to U.S. $ 4,000 / ton in early February. Overwhelmed a rebound, but also reasonable. Expected July Butadiene spot prices in Asia will rise further and remain strong.

Several sets of devices focused overhaul butadiene in short supply

A senior market analyst, told reporters, Formosa Petrochemical butadiene parking is just a fuse, butadiene prices quickly rebounded due largely to tight supply-demand relationship, outstanding performance for multiple sets of butadiene device centralized maintenance, resulting in a shortage of market supply.

Summer, domestic butadiene concentrate entered the maintenance period. Lanzhou Petrochemical 135,000 t / year plant planned maintenance on July 6, 20 days; maintenance and Saudi Arabia Petrochemical 220,000 t / year plant plan by the end of August, 45 days; YPC about 16 million tons / year plant planned shut down for maintenance in July 15 months; overhaul Huajin Tongda 100,000 tons / year plant plan in August, 30 days; Liao Tung Chemical 120,000 tons / year plant planned shut down for maintenance a month from August 1.

With the centralized maintenance of production enterprises, the market tight butadiene supply, the most prominent is the Panjin Ethylene and butadiene in short supply on the market due to tight inventories, production companies repeatedly raised prices; in early July, Panjin Ethylene factory The price of the first breakthrough in the 20,000 yuan / ton mark, leading the butadiene market.

Domestic butadiene production capacity of approximately 2.8 million tons, manufacturers of butadiene multi-personal use or each other for mainly smaller amount of goods for export, while butadiene imports less market supply shortage, resulting in a price to rise rapidly.

Downstream rubber market to rise to support the the butadiene strong market

As an important petrochemical basic raw materials, butadiene is mainly used for the production of a variety of synthetic rubber and synthetic resin, butadiene rubber, styrene butadiene rubber, SBS and ABS, etc.. Among them, more than 60 percent of the butadiene to enter the terminal through the downstream synthetic rubber, tires and auto market.

In order to promote economic growth, since June, the state has introduced a number of economic stimulus policies. The central bank cut interest rates to reduce corporate financing costs, increased operating rate of the downstream market; the countries have launched energy-saving appliances for the benefit of subsidy policy, and the car trade policy, and will continue to implement the car to the countryside and new energy auto production and consumer incentive policies. A series of policies to promote the automotive and other downstream market is strong, demand for synthetic rubber. The data released by the China General Administration of Customs show that the first six months of this year, China’s imports of synthetic rubber (including latex) 720,000 tons, imports increased by 5.1%; which imports 116,000 tons in June. Coupled with July, the domestic Portland, the Yangtze, dry ports styrene butadiene rubber device one after another scheduled maintenance. A variety of good news to promote the domestic rubber market rose sharply. As of July 10, rose 5.21 percent styrene-butadiene rubber, nitrile rubber rose by 5.50%, 3.74% butadiene rubber. The downstream business growth in demand, the consumption of raw material butadiene rapid rise, supporting the strong market of butadiene.

To industry analysts, the domestic butadiene into the 20,000 yuan / ton mark, and still maintain a strong butadiene market in the short term, but the sharp rise in the possibility of not.

Source: National oil and chemical networks

Translated by Google Translator from http://market.cria.org.cn/25/9686.html

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