Sinopec Baling Company raised the EXW price of SEBS by RMB 2,000/mt last week. The SEBS offer of Ningbo Keyuan Petrochemical’s SEBS soared to RMB 30,000/mt. Meanwhile, the import price also increased to a large extent.
Asian butadiene price surged. The butadiene price increased by USD 300/mt CFR China. China’s import price of butadiene was RMB 21,500/mt.
For Chinese SEBS producers’ butadiene source, Sinopec Baling Company has its own butadiene products, TSRC (Nantong) Chemical Industrial relied on imported butadiene, and Ningbo Keyuan Petrochemical purchased Chinese-made butadiene. Therefore, the SEBS production cost of Sinopec Baling Company was the lowest in China. The production cost is narrowing recently, thus SCI predicts that the price of SEBS may rise further in the following market.
Currently, the export volume of SEBS is large, leading to limit supply in China. TSRC (Nantong) Chemical Industrial and Sinopec Baling Company put restrictions on sales volume. The imported SEBS from LCY Group can only arrive China in January. Besides, the 20kt/a SEBS unit at Ningbo Keyuan Petrochemical shut down unexpectedly last week, further aggravating the tight supply status in China.
The 30kt/a SEBS unit at Huizhou LCY Elastomer will start trial production after the Spring Festival holiday and will achieve scale production in Q2, 2017. The 20kt/a SEBS unit at Zhejiang Zhongli Synthetic Material won’t be put into production by the end of 2017, thus it will exert no impact to the Chinese SEBS market in the short run.
Though the SEBS demand is just average recently with the Spring Festival holiday approaching, major suppliers’ storage is at a low level on the whole and the supply in China is tight. Therefore, producers will face no trading pressure after the Spring Festival holiday. According to SCI, the SEBS market price will continue to be firm on cost support.
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