China's butadiene market outlook will continue to weaken the finishing

Drying equipment

After the Ching Ming period, the butadiene market did not change its weak trend. Panjin Ethylene has lowered the price of its cargos twice, with a drop of more than 1,000 yuan (ton price, the same below). Sinopec Chemical Sales Company also lowered the price of Yangzi Petrochemicals, Shanghai Petrochemical and Zhenhai Refinery and Chemicals to 25,000 yuan. At present, the butadiene market spreads badly, the external tape is weak, the downstream demand is weak, and the previous period is good enough to consume. The market mentality is difficult to boost, and the market outlook may maintain the weakness slightly downward.

Although the supply of butadiene in the Asian market was tightened due to unexpected shutdowns and maintenance seasons, it did not bring much benefit and the Asian market was rather weak and gloomy. Taiwan PetroChina Co., Ltd. shut down the butadiene extraction plant due to an accident and is expected to close it for one month. A Malaysian company, due to mechanical problems, plans to close the 100,000-tonne butadiene plant on April 23 for a 10-day overhaul. South Korea's Kumho Petrochemical also plans to overhaul the polybutadiene plant with an annual capacity of 120,000 tons. However, due to the abundant market supply, buyers are reluctant to trade at high prices, and they are more likely to wait and see. Market participants are slashed by 20 US dollars. In the short term, the market is difficult to pick up. This is a bad opportunity for the domestic butadiene market. factor.

The domestic market is even more resistant. Due to the pessimistic outlook on the market outlook, traders cashed in a strong state of mind, low-cost sources occupied the market, so that the butadiene market conditions fell and the high-end offer decreased. In particular, the enthusiasm for finding downstream goods into the market is low and the bid price is low. High market stocks, oversupply situation is difficult to improve, the price is low in the 25,000 to 25,500 yuan. Although Zhenhai Refinery's annual production capacity of 165,000 tons of equipment and Yangzi BASF's annual output of 130,000 tons have shutdown maintenance plans, such news is insufficient for the market to generate upward momentum, and the high inventory situation is difficult to change, thus hindering the butadiene market price. Rise.

Market demand has always been an important factor in leading prices, while the downstream demand for butadiene has been difficult to see improvement. It has become the biggest negative, and has also led to the spread of pessimism in the market. The reporter understands and analyzes several major downstream industries and there are no demand highlights.

Synthetic rubber market frustrated. Latex companies' orders have shrunk and the start-up load is not high. The overall trend of the butadiene rubber market was dull and the market was weakly consolidating, thereby reducing the purchase of raw materials. Qilu Shun Ding device is under low load production, the current manufacturer has few inventory, and the operating rate of Baling and Gaoqiao devices is about 50%. Although some of the offers stayed at a high of 28,400 to 28,500 yuan, the downstream tires and other industries suffered from serious emotions and dragged down transaction prices. In the styrene-butadiene rubber market, Panjin Ethylene lowered the price of butadiene by 800 yuan, causing market traders to breed panic. After taking delivery of goods at lower prices, there was no improvement in transactions. Downstream users used it with business, and merchants waited and watched.

The overall weakness of the ABS market is mainly declining, with a drop of more than 100 to 200 yuan. Petrochemical companies offer low prices and have limited support to the spot market. The market traders' confidence in the market outlook is obviously insufficient, and they are now cautiously watching and operating more quickly. The downstream industries such as household appliances are under the influence of inventory backlog and tight liquidity. The operating rate is low and the demand is weak. Currently, many small and medium-sized single goods are maintained, and it is difficult to effectively improve them in the short term.

From a macroeconomic point of view, following the footsteps of Greece, Spain, another country in the euro area, was caught in a debt crisis and the investor’s mentality was affected. In addition, the third quantitative easing monetary policy of the United States has no hope of launching, the global economic recovery is worrying, and the commodity market is also affected. Domestically, with the release of data in the first quarter, weak exports and sluggish domestic real estate market, the economic growth rate in the first quarter hit the lowest level in three years. Vegetable prices and oil prices have risen in turns, and CPI is rebounding again. The market can not help but worry about inflation in the second quarter. The pressure may increase, further increasing the market's uncertainty and dampening the confidence of traders entering the market.

Market participants generally believe that the butadiene market is under pressure and many factors are gathering. If there is no special favorable promotion, the market outlook will continue to be weak and it will take time to reverse.

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