China Petroleum and Chemical Corp, or Sinopec, raised its ex-works butadiene prices in the north by Yuan 500($81)/mt, or 6%, to Yuan 9,000/mt effective Wednesday, end-users said.
The price increase comes after the state-run company late Tuesday raised its butadiene offers in the east by Yuan 500/mt to Yuan 9,000/mt and in the south by Yuan 800/mt to Yuan 9,300/mt.
Sinopec last revised its prices on August 12.
Domestic distributors in China are offering butadiene at Yuan 9,200-Yuan 10,300/mt ex-tank, up from about Yuan 9,000/mt last week, they said.
One end-user said the price hikes were a result of higher prices for synthetic rubber.
Prices for SBR1502 grades were up $50/mt week on week at $1,760/mt CFR Northeast Asia on August 30, Platts data showed