Asian Butadiene: Falls $70-$80/mt amid ample supplies- CFR
China reaches 7-month low- Asia
Butadiene-Naphtha Spread reaches 5-month LowAsian butadiene dropped $70-$80/mt on Aug.
19, as the CFR China price reached a seven-month low at $920-950/mt. This was
due to ample supplies and bearish downstream demand. China's local butadiene
prices rose earlier in the week due to rising downstream Chinese automobile
sales. However, the gains were temporary
as prices dropped Yuan 200-250/mt by the end of the day to Yuan 8,300-9,000/mt
(Aug. 19) or $1,057-1,100/mt if based on import parity. China's butadiene supply is increasing in line with the
start-up of new and existing butadiene factories. Also available were supplied from Southeast Asia. Two spot cargoes totaling 4,000mt were reported to have been
traded on a FOB Southeast Asia basis for September loading. According to the CFR Northeast Asia-based...