China Petroleum and Chemical Corp., or Sinopec, raised its eastern and southern China ex-works butadiene prices by 2.1%-2.2%, effective late Monday, over concerns of tight supply, market sources said Tuesday.
In East China, Sinopec is offering butadiene at Yuan 9,500/mt, or about $1,159/mt on an import parity basis, up Yuan 200/mt. Eastern China prices were last raised by Yuan 200/mt to Yuan 9,300/mt on September 12.
Over in South China, the company is offering butadiene at Yuan 9,600/mt, up Yuan 200/mt, or 2.1%.
Prices in the south were last raised Yuan 100/mt to Yuan 9,400/mt on September 13, after it raised prices Yuan 200/mt to Yuan 9,300/mt on September 12.
But offers in the northern provinces stood at Yuan 8,700/mt, unchanged since August 31, when prices were increased by Yuan 200/mt.
A producer said the domestic Chinese market faces tight availability, especially for prompt cargoes, and that delivered prices for butadiene were more than Yuan 10,500/mt.