Beijing – China Petroleum and Chemical Corp (Sinopec) today raised its ex-works butadiene price in East China by Yuan 100/mt (€11.75) to Yuan 8,800/mt (€1,035).
The latest price is equivalent to $1,182/mt on an import parity basis.
But the company kept its ex-works butadiene prices in North and South China unchanged at Yuan 8,700/mt today.
The price increase in East China was largely due to firm demand in downstream markets, such as styrene butadiene rubber, as well as tight butadiene supplies in Asia following arbitrage movements to the US in recent months, sources said.
The CFR Northeast Asia SBR price was pegged at $1,890/mt this morning, an increase of $15/mt from last Friday's Asian close.