China Petroleum and Chemical Corp, or Sinopec, has raised its ex-works butadiene prices by 5.1% for the country’s eastern and northern provinces and by 3% in its southern provinces, effective Wednesday, end-users said.
In eastern and northern provinces, the state-run company increased prices to Yuan 10,800/mt, equivalent to about $1,472/mt on an import parity basis, up 5% from Yuan 10,300/mt on September 25.
In the South, prices for the synthetic rubber feedstock stood at Yuan 11,000/mt, up Yuan 300/mt from Yuan 10,700/mt at end September.
The price hikes come amid tight availability for October cargoes.
In eastern Shandong province, ex-tank offers from domestic distributors ranged between Yuan 12,600-Yuan 12,800/mt, the sources said.
A synthetic rubber producer said the distributors’ offers were for volumes of 10-20 mt.
Source: platts.com
