Morning Market Insights for Butadiene

1. Key Focus Points

• Domestic supply increased slightly, easing the tight spot market situation.
• Downstream acceptance of high prices is limited, resulting in significant transaction resistance.

Core Logic: The interplay between supply and demand leads to range-bound fluctuations in the market.

2. Price Table

Notes:

1. Units for CFR China are USD/ton; units for crude oil are USD/barrel; all other units are CNY/ton.
2. Prices represent point-in-time data from the two preceding working days, not weekly averages.
3. Change (%) refers to the day-on-day percentage change.

3. Market Outlook

In the short term, there are expectations for the restart of Hainan Refining & Chemical’s butadiene unit, which may lead to further increases in domestic production. However, this supply-side increment is expected to have a limited impact on market direction. Downstream plants require time to restore operating loads, and buyers remain cautious and wait-and-see. Nevertheless, cost support prevents the availability of low-priced goods in the market, and traders show little willingness to sell at lower prices. Therefore, the domestic butadiene market is expected to primarily fluctuate within a range.

4. Data Calendar

Legend:

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