- Yuan 100-150/mt Local China recovers- Asia's overall market
sentiment bearish





In quiet trading, Asian butadiene was rated
stable on Nov. 21 as compared to Nov. 18. The local China butadiene market price increased
Yuan 100-150/mt. This is equivalent to $840-860/mt if based on import-parity. However,
overall Asian market sentiment is bearish as additional cargoes are expected to
be available starting December in order to support the planned startup of new
butadiene factories, notably in China. The global
butadiene market is also falling, as the CIF USG Butadiene price dropped 2.50
cents/lb weekly to be evaluated at 64.50 Cents/lb Nov. 18, or $1,355.46/mt. Market
sources indicated that Asian butadiene will not experience a sharp decline,
since it is currently undervalued relative to naphtha. The CFR
Japan naphtha market price dropped $21-26/mt between Nov. 18 and Nov....