ERJ staff report (BC)
Singapore – China Petroleum and Chemical Corp, or Sinopec, slashed its ex-works prices for styrene-butadiene rubber by 5-6 percent on 3 July, Clement Choo of Platts reports end-users as having said.
With the latest cut, Sinopec Qilu Petrochemical is offering its SBR1502 grade in East China at Yuan 10 700/tonne, or about €1,355/tonne on an import parity basis, down Yuan 700 (€89)/tonne or 6 percent from Yuan 11 400 (€1,444)/tonne on 1 July.
For SBR1712 prices, Qilu is offering the grade at Yuan 9,000 (€1,140)/tonne, down Yuan 500 (€63) /tonne or 5 percent, from Yuan 9,500 (€1,203)/tonne on 1 July.
The price cuts are attributed to poor demand and high synthetic rubber stocks in China.
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Full story from Platts