Market Sentiment Slightly Improves; Butadiene Market Oscillates at High Levels (Sep 20, 2026)

1. Daily Summary

① On September 20, Sinopec East China's ex-factory price for butadiene remained stable at RMB 13,700/ton, while the downstream synthetic rubber market held steady.

② On September 20, the capacity utilization rate of the domestic butadiene industry was 65.47%, a decrease of 0.03 percentage points from the previous working day.

2. Spot Market Overview

Table: Domestic Butadiene Price Summary (Unit: RMB/ton)

Data Source: Chempricehub

Taking the delivered price in the Shandong Luzhong region as the benchmark, today's price closed at RMB 13,850/ton, an increase of RMB 300/ton compared to the previous period. Today, the domestic butadiene market fluctuated within a high range. Market sentiment improved slightly; some traders maintained firm offers with little willingness to sell low. Although downstream purchasing interest was moderate and cautious wait-and-see attitudes were prevalent—resulting in actual transactions occurring at lower levels—the absence of new low-priced spot supplies kept the market trending within a high range. The delivered price in the Shandong Luzhong region ranged between RMB 13,800–13,900/ton, while the reference price for tank truck pickup in East China was RMB 13,300–13,400/ton.

On September 20, the capacity utilization rate of the domestic butadiene industry was 65.47%, down by 0.03 percentage points from the previous working day. Regarding theoretical production margins, on September 18, the Japanese naphtha market declined, and Sinopec adjusted its butadiene price downward by RMB 300/ton to RMB 13,700/ton. Consequently, the theoretical production margin for butadiene extraction from C4 streams decreased, with the calculated profit for the C4 extraction process standing at RMB 4,461.91/ton.

4. Price Forecast

Uncertainty regarding the short-term geopolitical situation in the Middle East continues to keep crude oil prices at elevated levels, providing cost-side support for firm trader offers. Although downstream plants are operating at relatively low loads, creating resistance to high-price transactions, rigid demand from contract deliveries remains present. Therefore, the domestic butadiene market is expected to fluctuate within a specific range.

5. Related Product Status

Synthetic Rubber Market: Today, prices for cis-polybutadiene and styrene-butadiene rubber declined. In the Shandong market, the price for Daqing BR9000 remained stable at RMB 15,000/ton, and the price for Qilu SBR 1502 stayed stable at RMB 15,400/ton.

6. Data Calendar

Table: Domestic Butadiene Data Overview (Unit: 10,000 tons, RMB/ton)

Data Source: Chempricehub

Notes:

1. ↓↑ indicates significant volatility, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow-range fluctuations, highlighting data with changes within 0–3%.