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Asian BD （butadiene） market offer price monthly by September 2017
Asian Butadiene Market Trend Curve Update September 2017
U.S. Butaiene (BD) Market Trend Curve Update September 2017
N.W.European Butadiene (BD) Market Trend Curve Update September 2017
Chinese Butadiene (BD) Ex-work Price Update September 2017
Chinese Butadiene (BD) Plants Price Movement Review
Chinese butadiene (BD) Import and Export Data Update August 2017
Butadiene (BD) upstream industries market dynamic
Butadiene (BD) Plants Gross Profit Analysis September 2017
Butadiene (BD) and SBR (styrene butadiene rubber) spread price
Butadiene (BD) and BR (butadiene rubber) spread price analysis
Assessment of market demand volume for butadiene 2016-2017
Asian Butadiene Unit Turnaround Plan Update September 2017
Spot Points
1.Sinopec’s each sales subsidiaries post their listed BD (butadiene) price at RMB12,200/12,300/mt through September 2017, raise RMB1,700/mt from August.
2. By market close on September 28th, CFR China at USD1,590/mt, gain 200 dollars/mt than August.
3. Jiangsu Sierbang Petrochem’s 100,000mt/a unit was fed in material at early September, and qualified butadiene product was produced.
4. Shenhua Ningmei’s 40,000mt/a Extraction Unit proceeded trail operation before shutdown, and restart time still pending.
5. Some shipments that were planned ETA within September, were put off to October, due to weather effect.
Asian BD （butadiene） market offer price monthly by September 2017
USD/mt
BD(butadiene)
|
Date
|
FOB S.Korea
|
CFR S.E.Asia
|
CFR N.E.Asia
|
CFR China
|
9.1
|
1360
|
1360
|
1375
|
1410
| |
9.8
|
1470
|
1470
|
1500
|
1520
| |
9.15
|
1550
|
1550
|
1595
|
1600
| |
9.22
|
1550
|
1550
|
1575
|
1600
| |
9.28
|
1550
|
1550
|
—
|
1590
| |
Avg. Sept.
|
1496
|
1496
|
1511.25
|
1544
| |
Avg. Aug.
|
1080
|
1076
|
1160
|
1132
| |
Gain/shed
|
416
|
420
|
351.25
|
412
| |
Up/-down
|
38.52%
|
39.03%
|
30.28%
|
36.40%
|
Asian Butadiene Market Trend Curve Update September 2017
September, Asian butadiene (BD) continued climbing up from August, as FOB South Korea at USD1,550/mt, gain 240 dollars/mt; CFR China at USD1,590/mt, gain 220 dollars/mt.
Taiwan FPCC (Formosa Petrochemical Corporation)’s 180,000mt/a BD (butadiene) unit is shut down in turnaround from 16th August to 29th September. South Korea Lotte’s 150,000mt/a unit was shut down for 7 days turnaround. Asian butadiene (BD) market was surging on well demand in September, however, from mid-September, Chinese butadiene (BD) market was dipping down at speedy pace, leading to cautious mood from abroad market.
South Korean Yeochun Petochem executed its Butadiene (BD)’s contract price at USD1,145/mt in August, gain 170 dollars/mt from July’s USD975/mt, while Taiwan FPCC at USD1,085/mt, gain 135 dollars/mt than July’s USD950/mt.
U.S. Butaiene (BD) Market Trend Curve Update September 2017
U.S. spot butadiene (BD) market saw the same uptrend. By market close on 28th September, spot butadiene (BD) is assessed at 54-55 cents/pound (USD1,190-1,212/mt), gain 14.5 cents/pound from August.
Following Asian BD (butadiene) market, U.S.spot butadiene market keep on uptrend since end August on tight supply of September contract and spot cargoes due to hurricane’s impact on U.S.Gulf butadiene units operation.Some traders hold an expectation over October contract price beyond 50 cents/pound. Exxon Mobil and TPC Group’s butadiene (BD) contract price at 57 cents/pound and 52 cents/pound respectively, gain 15 cents/pound, and 10 cents/pound.
Contract price front: U.S.butadiene (BD) contract price September is assessed at 42 cents/pound (USD925.93/mt), which was adopted as released contract price all by Exxon Mobil, TPC Group, Lyondell Basell Industries and Shell Chemicals.
N.W.European Butadiene (BD) Market Trend Curve Update September 2017
European butadiene (BD) market through September maintained its uptrend. By 28th September market close, FD N.W.Europe at 948/952 Euro/mt, gain 150 Euro/mt than August.
Massive European cargoes swarm to Asian market where supply was tight. News heard early the month there was shipment with 12,000mt cargoes, combined with U.S.hurricane impact, it brings Europe market more chance of export. Early September, some plants post their listed price at 1,100-1,200 usd/mt FOB Rotterdam; mid-September, there was 2000mt October delivery shipment was concluded at USD1,170/mt FOB Rotterdam; another 1000mt shipment concluded at USD1,200/mt FOB Rotterdam; meanwhile, there is 1000mt October shipment, price at 950 Euro/mt FD N.W.Europe.
September N.W.European butadiene (BD) contract price was settled at 775 Euro/mt, gain 25 Euro/mt from August.
Chinese Butadiene (BD) Ex-work Price Update September 2017
RMB/mt
Enterprises
|
Ex-work
|
Gain/shed
|
Units Operation
|
Shanghai Petrochem
|
12200
|
1700
|
BD unit in normal operation
|
Yangtze Petrochem
|
12200
|
1700
|
1# and 2# unit in normal operation, 3# unit shut down
|
Zhenhai Refinary
|
12200
|
1700
|
165,000mt/a unit in normal operation, majorly supply for Shenhua
|
Maoming Petrochem
|
12300
|
1700
|
150,000mt/a unit in normal operation
|
Guangzhou Petrochem
|
12300
|
1700
|
BD unit in normal operation, most supply for Baling
|
Tianjin Ethylene
|
12200
|
1700
|
200,000mt/a unit in normal operation
|
Wuhan Ethylene
|
12200
|
1700
|
131,800mt/a BD extraction unit in normal operation
|
Liaotong Chemicals
|
10510
|
100
|
120,000mt/a unit at 70% utilisation rate
|
Fushun Petrochem
|
10300
|
400
|
160,000mt/a BD unit in normal operation
|
Liaoyang Petrochem
|
10500
|
200
|
30,000mt/a BD unit in normal operation
|
Qixiang Tengda
|
--
|
--
|
1 line at low utilisation rate
|
Huayu
|
--
|
--
|
100,000mt/a extraction unit in normal operation
|
Wanda
|
--
|
--
|
60,000-70,000mt/a extraction unit was fed in material on 17th August 2017
|
Chinese butadiene market summary update September 2017
Sinopec posted its listed price of Butadiene (BD) at RMB12,200-12,300/mt, up 1700 yuan from August.
By the date releasing Ecprams butadiene report, Chinese butadiene (BD) market price at reference RMB11,000-11,500/mt, slightly higher 400-500 yuan/mt around.
Chinese Butadiene (BD) Plants Price Movement Review
RMB/mt
Producers
|
Chinese Butadiene (BD) Plants Price Movement Update September 2017
| ||||
2017.9.1
|
2017.9.8
|
2017.9.15
|
2017.9.22
|
2017.9.29
| |
Shanghai Petrochem
|
10800
|
11700
|
12200
|
12200
|
12200
|
Yangtze Petrochem
|
10800
|
11700
|
12200
|
12200
|
12200
|
Zhenhai Refinery
|
10800
|
11700
|
12200
|
12200
|
12200
|
Maoming Petrochem
|
10900
|
11800
|
12300
|
12300
|
12300
|
Guangzhou Petrochem
|
10900
|
11800
|
12300
|
12300
|
12300
|
Tianjin Ethylene
|
10800
|
11700
|
12200
|
12200
|
12200
|
Wuhan Petrochem
|
10800
|
11700
|
12200
|
12200
|
12200
|
Liaotong Chemicals
|
10010
|
11510
|
12110
|
12210
|
10510
|
Fushun Petrochem
|
9800
|
11300
|
12200
|
11700
|
10300
|
Chinese butadiene (BD) Import and Export Data Update August 2017
BD Import
|
BD Export
|
Import volume:34599.72（mt）
|
August Export Volume:0（mt）
|
Accumulative Import Volume:229664.82（mt）
|
Accumulative Export Volume:2109.78（mt）
|
August Import Avg.Price:1061.48（USD/mt）
|
August Export Avg. Price: —（USD/mt）
|
Import Volume M-O-M：-1.35%
|
Export Volume M-O-M：-1%
|
Import Volume Y-O-Y：52.22%
|
Export Volume Y-O-Y：—%
|
Accumulative Import Volume than last year：24.57%
|
Accumulative Export Volume than last year：8339.12%
|
According to Chinese customs, China imported 34,599mt butadiene (BD) in August 2017, amount 36.727 million dollars, average price at USD1,061.48/mt, and accumulative imported 229,664.82mt, with amount totaled 402.2447 million dollars since January, The imported volume slip down by 1.35 m-o-m, and up 52.22% Y-o-Y.
Butadiene (BD) upstream industries market dynamic
Crude oil and naphtha
International Crude Oil Market Trend Curve Sept.2017 Naphtha Market Trend Curve Sept. 2017
By the date 28th September, WTI at USD51.56/barrel, up 11.02%; Japanese naphtha market closed at USD527.75/mt, up 10.98%.
Butadiene (BD) Plants Gross Profit Analysis September 2017
Ecprams assessment is based on Japanese naphtha price and Sinopec East China butadiene supply cost. By 28th September,Japanese naphtha market closed at USD527.75/mt, up 10.98%. Chinese butadiene crack unit’s theoretical cost at RMB7,373.8/mt around, up 4.05% from August. Sinopec’s offer through September was adjusted to RMB12,200/mt. Therefore, butadiene (BD) extraction unit have theoretically made profit RMB4,826.2/mt, up 41.41% from August.
BD (butadiene) downstream rubber industries analysis September 2017
Butadiene (BD) and SBR (styrene butadiene rubber) spread price analysis Sept.2017
Chinese SBR (styrene butadiene rubber) ex-work price at RMB12,100-12,600/mt, shed RMB300-600/mt from Augut; market price at RMB12,000-12,100/mt, shed RMB1,300-1,400/mt
Chinese SBR plants’ utilisation rate through September was around 72%. Zhechen (Hangzhou) SBR unit shut down for turnaround during 15 Aug.-05 Sept., and shut down again on 28 Sept.and plan to last 10 days then restart from 09 Oct.
Butadiene (BD) and BR (butadiene rubber) spread price analysis Sept.2017
Chinese BR (butadiene rubber) ex-work price through September at RMB12,700-13,000/mt, gain 0-300 yuan/mt.
BR unit front September: Jinzhou Petrochem, Fuxiang Petrochem, Baling Petrochem, Huamao, Gaoqiao Petrochem still offline; Dushanzi 30,000mt/a BR unit restart to 100% operation on 16th September since shutdown from 10th July; TSRC UBE （Nantong)’s 72,000mt/a BR unit restarted from 19th September.
Ecprams Tips: new heard Jinzhou Petrochem’s 30,000mt/a BR unit plan to start in October; Haopu New Material Co.’s 60,000mt/a BR unit plan to start operation later.
Assessment of market demand volume for butadiene 2016-2017
Ecprams report, Chinese plants’ production schedule in September was to produce 65,200mt butadiene rubber (BR), 64,300mt SBS,and 92,100mt styrene butadiene rubber (SBR).SBR dry rubber’s scheduled output volume lessened by 5000mt from August while oil rubber had 6000mt more. Therefore, the demand volume for butadiene (BD) is estimated 9.66% decrease from August.
Butadiene rubber unit dynamics:
Shenhua Ningmei’s 64,000mt/a butadiene unit proceeded trail operation before shutdown.
Sierbang’s 100,000mt/a oxide de-hydro unit was fed with raw materials at early September, then operate normally.
Lanxing’s 50,000mt/a extraction unit put off its launch-into-production plan to October.
Asian Butadiene Unit Turnaround Plan Update September 2017
Producer
|
Capacity (‘0000mt)
|
Turnaround Period
|
Days
|
Saike
|
9
|
3.13-4.12
|
30 days
|
Zhenhai Refinery
|
16.5
|
April
|
45 days
|
Fushun Petrochem
|
16
|
6.5-7.15
|
40 days
|
Huajin
|
12
|
4.19-5.5
|
15 days
|
Lianhe
|
18
|
End March early April
|
1 week
|
Yangtze Petrochem
|
12
|
May-July
|
60 days
|
Shanghai Petrochem
|
12
|
4.15-5.26
|
40 days
|
Qilu Petrochem
|
17
|
5.15-7.4
|
50 days
|
Qixiang Tengda
|
10
|
3.27-4.19
|
20 days
|
Maoming Petrochem
|
10
|
7.4-7.16
|
15 days
|
Lanzhou Petrochem
|
9
|
7.1-7.21
|
20 days
|
Lianhe
|
6
|
7.15-7.30
|
15 days
|
LG Chemicals
|
14.4
|
9.2-9.10
|
10 days
|
Lotte Chemicals
|
10
|
Mid-February
|
40-45 days
|
Singapore Petrochem
|
6
|
04~23th January
|
20 days
|
Thai Petrochem
|
6.5
|
Early February
|
40 days
|
CPC Corporation, Taiwan
|
10
|
Mid Feb.~early April
|
45 days
|
Mitsubishi Chemicals
|
8.5
|
Early May
|
50 days
|
FPCC
|
17.6
|
August-early October
|
45 days
|
Yeochun Petrochem
|
24
|
Early March
|
3 weeks
|
JSR Japan
|
13
|
Mid-June-end July
|
45 days
|
Ecprams Report
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