hina Petroleum and Chemical Corp., or Sinopec, has cut its ex-works offers for butadiene by 7.4% effective Wednesday, market sources said.
Offers in east China now stand at Yuan 7,500/mt, or $958/mt on an import parity basis, down Yuan 600/mt or 7.4%. East China offers were last lowered on June 2 by Yuan 400/mt to Yuan 8,100/mt.
In the northern provinces, offers were Yuan 7,500/mt, down from Yuan 8,100/mt, while in the southern provinces, offers were also lowered to Yuan 7,500/mt, down Yuan 600/mt.
It is very hard to sell butadiene in China, a synthetic rubber producer said, citing weak demand due to a surplus of spot styrene-butadiene-rubber cargoes putting downward pressure on SBR prices.
Butadiene and styrene monomer are vital raw materials used in making SBR.
