① On September 28, Sinopec East China butadiene ex-plant prices remained stable at RMB 13,500/ton, while downstream synthetic rubber market prices increased.
② On September 28, the domestic butadiene industry capacity utilization rate stood at 67.36%, a slight decrease from the previous working day.
Table: Domestic Butadiene Price Summary (Unit: RMB/ton)
| Price Type | Producer/Region | Sep 28 Price | Sep 24 Price | Change (Value) | Change (%) |
|---|---|---|---|---|---|
| Ex-plant Quote | Sinopec East China | 13,500 | 13,500 | 0 | 0.00% |
| Sinopec South China | 13,450 | 13,450 | 0 | 0.00% | |
| Sinopec North China | 13,600 | 13,600 | 0 | 0.00% | |
| Sinopec Central China | 13,500 | 13,500 | 0 | 0.00% | |
| Lianyungang Petrochemical | 13,500 | 13,540 | -40 | -0.30% | |
| Shenghong Refining & Chemical | 13,600 | 13,600 | 0 | 0.00% | |
| Dalian Hengli | 13,310 | 13,310 | 0 | 0.00% | |
| Yantai Wanhua | 13,600 | 13,700 | -100 | -0.73% | |
| Liaoyang Petrochemical | 13,070 | 12,850 | +220 | +1.71% | |
| Shenhua Ningmei | 13,000 | 13,100 | -100 | -0.76% | |
| Inner Mongolia Jiutai | 12,800 | 12,800 | 0 | 0.00% | |
| Dongming Petrochemical | 13,530 | 13,420 | +110 | +0.82% | |
| Yulong Petrochemical | 13,500 | 13,650 | -150 | -1.10% | |
| Market Price | Shandong Luzhong Delivered | 13,750 | 13,875 | -125 | -0.90% |
| Jiangyin Tankside Pickup | 13,525 | 13,600 | -75 | -0.55% | |
| Huanghai West Bank Pickup | 13,525 | 13,660 | -135 | -0.99% | |
| Key Downstream | |||||
| BR Rubber | Shandong Daqing BR9000 | 15,400 | 15,350 | +50 | +0.33% |
| SBR Rubber | Shandong Qilu 1502 | 15,800 | 15,600 | +200 | +1.28% |
Based on the delivered price in the Shandong Luzhong region, today’s closing price was RMB 13,750/ton, a week-on-week decline of RMB 125/ton. The domestic butadiene spot market weakened slightly today. Although some downstream buyers engaged in pre-holiday stockpiling and certain traders showed little willingness to sell low, slow profit recovery in downstream industries led most plants to maintain low operating rates. Consequently, demand for high-priced butadiene procurement remained weak, resulting in slightly lower transaction prices and a minor downturn in the butadiene market trend.
On September 28, the domestic butadiene industry capacity utilization rate was 67.36%, a slight decrease from the previous working day. Regarding theoretical production profits, as Japanese naphtha prices rose on September 24 and Sinopec butadiene prices held steady at RMB 13,500/ton, the theoretical profit margin for C4 extraction-based butadiene production declined, calculated at RMB 4,041.00/ton.
In the short term, high crude oil and naphtha prices continue to provide cost-side support to the market. Additionally, restocking sentiment among some downstream users may bolster sellers' firm quoting intentions. However, strong resistance from downstream sectors regarding raw material costs, combined with cautious wait-and-see attitudes in the market, creates significant barriers to high-price transactions, potentially suppressing market momentum. Therefore, the domestic butadiene market is expected to trade within a range.
Synthetic Rubber Market: Today, prices for both cis-polybutadiene (BR) and styrene-butadiene rubber (SBR) increased. In the Shandong market, Daqing BR9000 prices rose by RMB 50/ton to RMB 15,400/ton, while Qilu SBR 1502 prices increased by RMB 200/ton to RMB 15,800/ton.
Table 4: Domestic Butadiene Data Overview (Units: 10,000 tons; RMB/ton)
| Data Indicator | Release Date | Previous Period Data | Current Trend Forecast |
|---|---|---|---|
| Butadiene Port Inventory | Wednesday 17:00 PM | 2.37 | ↗ |
| Butadiene Production Profit | Friday 17:00 PM | 5,004.23 | ↘ |
| Butadiene Inventory Analysis | Friday 17:00 PM | 3.93 | ↗ |
| Weekly Butadiene Capacity Utilization | Friday 17:00 PM | 66.11% | ↗ |
| Weekly Butadiene Output | Friday 17:00 PM | 10.70 | ↗ |
Notes:
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