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Sunday, November 28, 2021

Sinopec cuts butadiene price in East China by 5.4% to Yuan 14,000/mt

China Petroleum and Chemical Corp, or Sinopec, has cut its ex-works prices of butadiene in East China by 5.41% effective Wednesday, market sources said.

Offers from Sinopec’s subsidiaries in eastern China, Yangzi Petrochemical, Shanghai Petrochemical, and Zhenhai Refining and Chemical, are now Yuan 14,000/mt or around $1,870/mt on an import parity basis, down Yuan 800/mt.

China’s butadiene requirements have been falling on weak downstream demand from butadiene-rubber and styrene-butadiene-rubber producers, and rumors of liquidation of butadiene cargoes by traders in the market.

Platts assessed CFR China butadiene at $1,865/mt Tuesday, flat from Monday, but down $175/mt week on week.

Source: Platt.com

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