<b>BDO, the raw material of PBAT, is being scrambled all over the world. The US BDO is “completely out of control”, and every pound has a place to go! </b>

Chem366—<span style GlobalBDOSupply is extremely tight, which has greatly affected downstream production. The average operating rate in China has almost reached 75%, much higher than the balance point of 60%, leading to the downstream of ChinaPBTThe decline in operating rate has also directly affected BDOBiodegradable material as raw materialPBAT output.

Currently, eachPBATfactories are relatively stable, but with The main raw materials areBDO, adipic acid, PTAInfluenced by the upward price, the overall cost pressure increases, and the downward transmission resistance also increases. Some PBATfactories that plan to start production in the first quarter said that if the price of raw materials continues to be high, it may be delayed Production time, but the overall demand is acceptable.

DomesticBDOThe extent and speed of price increase in the early stage of the market Too fast, exceeding the acceptable range of the downstream, and a narrow decline is a normal phenomenon, but based on the fact that the spot is still tight, the main downstream demand is still acceptable, and emerging industriesPBATPBATPBATWith the support of factors such as the expectation of increasing production, the probability of a sharp decline in the market in the short term is not high. Therefore, in order to seek healthy development upstream and downstream, DomesticBDOThe rational decline of the market is inevitable, but the range is still relatively limited.

An authoritative person told the Institute of Biodegradable Materials that there is currently no reasonBDOwill drop to 2below 10,000 this year and next year, The normal adjustment is 3.5-2.510,000 yuan, maintained at2.5-2.810,000 price range. Ruifeng Gaocai expects that the supply, demand and price of BDO will gradually return to normal.

In addition, BDOis in short supply, resulting in signed contracts that cannot Execution, the manufacturer directly reneges on the contract, and the bidding mode of BDO is also controversial.

YesBDOMerchant told Biodegradable Materials Research Institute , some manufacturers obviously intend to control the volume, for example, the weekly output5000multiple tons Just release100-200Tons participated in the auction, which made the already scarce supply of goods even more sought-after. “This is artificially driving up prices. I hope that relevant departments will impose severe penalties to maintain the healthy development of the industry.”

As far as we know,2At the end of the month, BDORelevant industry associations are also trying their best to coordinate human resources to allow enterprises to resume production as soon as possible, and call on manufacturers Respond rationally, and not rise too much, “Break the downstream, and everyone has nothing to play.”

Raw materials are in short supply, raw material matching and integrated layout becomePBAT The winner or loser of the company’s follow-up market competition.

Lanshan TunhePBATBecause of the brother company Xinjiang Meike owns2610,000 tonsBDOannual production capacity, which has more advantages in terms of cost. Recently, it has8.510,000 tonsBDOSichuan Tianhua, which has a production capacity, also announced that it will extend to the downstream. TonPBATProject, Wanhua Chemical is also supporting it at Meishan Base610,000 tonsPBATNew project1010,000 tons BDOPackage.

DomesticPBATRaw material supporting situation of enterprises (10,000 tons)

Enterprise	PBATtotal capacity	Supporting raw materials	Current production capacity of raw materials	Raw material capacity under construction	Future total production capacity
Huafon Group	30	AA	74	25.5	99.5
Sichuan Energy Investment	12	PTA	100	0	100
Yang Coal Chemical</p	26	0	26
Xinjiang Lanshan Tunhe	9	BDO	20.4	0	20.4
Xinjiang Lanshan Tunhe	9	PTA	0	60	60
Yizheng Chemical Fiber	3	PTA	100	0	100
Yizheng Chemical Fiber	3	BDO	5	0	5