China Petroleum and Chemical Corp, or Sinopec, has raised its ex-works butadiene price in East China by Yuan 100/mt to Yuan 8,800/mt Friday, traders said.
The latest price is equivalent to $1,182/mt on an import parity basis.
But the company kept its ex-works butadiene prices in North and South China unchanged at Yuan 8,700/mt Friday.
The price increase in East China was largely due to firm demand in downstream markets, such as styrene-butadiene-rubber, as well as tight butadiene supplies in Asia following arbitrage movements to the US in recent months, sources said.
The CFR Northeast Asia SBR price was pegged at $1,890/mt Friday morning, an increase of $15/mt from last Friday's Asian close.
Source:
http://news.chemnet.com/Chemical-News/detail-2325800.html
