Butadiene: Europe

摘要

Bearish sentiment prevailed in the European butadiene market this week on the back of softening export demand. Although US plant shutdowns were likely to help underpin April prices, sources felt the May market was heading for a decline once supply returned from plants on turnaround, sources said. In Asia, softening demand also weighed on prices, despite tighter availability caused by production issues and turnarounds. In the European FOB market, a trader found offers at $3,200/mt "unrealistic," and felt $2,900/mt reflected the current market and that the market could be bound for a "strong correction" following the rally in Q1. The trader added: "There's a lot of uncertainty in the market...The US seemed to be a copy of the H1 (trend) in 2011" when prices dropped significantly before rebounding.