Sinopec raises East China butadiene offers for second time in Jan

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and Chemical Corp, or , raised its ex-works offers in East China for a second time in January, to Yuan 9,900/, or $1,299/ on an import parity basis, effective Wednesday, up Yuan 200/ or about 2.1%, market sources said.

The state-owned company last increased butadiene prices on January 9 by Yuan 300/mt to Yuan 9,700/mt.

Among the reasons for the hike was tight availability of butadiene in the domestic market, a producer said.

Also, spot prices for imported material have firmed and Chinese demand has attracted cargoes from .

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CFR China prices stood at $1,320/mt Tuesday, S&P Global Platts data showed, their highest in more than three months. The price was last assessed higher on October 5, 2017, when they stood at $1,350/mt CFR China.

Offers for February were heard at $1,350/mt CFR China, sources said.

On a delivered basis, prices in East China hovered at Yuan 10,500-10,600/mt, the producer said.

  • Platts.com

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