State-owned China Petroleum and Chemical Corp, or Sinopec, has hiked its ex-works price for benzene in East China by Yuan 100/mt ($16.23/mt), or 1.16%, to Yuan 8,700/mt effective Thursday, an industry source said Friday.
The company could not immediately be contacted for confirmation.
Sinopec had cut its ex-works benzene price in East China by a total of Yuan 1,400/mt earlier this year, before raising it for the first time this year on April 1, by Yuan 100/mt to Yuan 8,200/mt.
Sinopec then raised the price by Yuan 200/mt April 9 and then by another Yuan 200/mt last week.
The current price equates to around $1,170/mt on an import parity basis.
The price change will apply to all the company's East China subsidiaries -- Sinopec Shanghai, Sinopec Zhenhai, Sinopec Jinling, Sinopec Yangzi and Sinopec Jiujiang.
