Trade Resources Industry Views The State-Owned Company Is Now Offering Butadiene at Yuan 8,500/Mt

The State-Owned Company Is Now Offering Butadiene at Yuan 8,500/Mt

China Petroleum and Chemical Corp, or Sinopec, raised its ex-works butadiene price effective late Monday, the second hike in four days, end-users said Tuesday.

The state-owned company is now offering butadiene at Yuan 8,500/mt, or about $1,155/mt on an import parity basis, up Yuan 500/mt, or 6%. On August 8, Sinopec had increased the price by Yuan 500/mt to Yuan 8,000/mt.

One end-user said Sinopec has reduced runs at several of its naphtha-fed steam crackers, affecting the availability of crude C4 feedstock for butadiene extraction units.

Domestic distributors in China are offering butadiene at Yuan 8,800/mt ex-tank since Monday, down from about Yuan 9,500/mt last week, end-users added.

Source: http://news.chemnet.com/Chemical-News/detail-2128302.html
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China's Sinopec Hikes Butadiene Price for Second Time in Four Days
Topics: Metallurgy