State-owned China Petroleum and Chemical Corp, or Sinopec, hiked its ex-works price for benzene in East China by Yuan 200/mt ($32.51/mt), or 2.44%, to Yuan 8,400/mt effective Wednesday, a company source said.
Sinopec has cut prices by a total Yuan 1,400/mt this year, before raising the prices for the first time this year on April 1, when it increased the ex-works price for benzene in East China by Yuan 100/mt to Yuan 8,200/mt.
The current price equates to around $1,130/mt on an import parity basis. The price change will apply to all its East China subsidiaries — Sinopec Shanghai, Sinopec Zhenhai, Sinopec Jinling, Sinopec Yangzi and Sinopec Jiujiang.
Source Platts.com
