Sinopec cuts East China butadiene prices by 8% second time this week

摘要

Singapore — China Petroleum and Chemical Corp., or Sinopec, late Tuesday, slashed its ex-works price for butadiene in East China by Yuan 1,000/mt ($159), or 8%, for a second time this week on weak demand and an oversupply of synthetic rubber, market participants said Wednesday. The latest cut places butadiene offers from Sinopec’s subsidiaries across East China — Yangzi Petrochemical, Shanghai Petrochemical, and Zhenhai Refining and Chemical — at Yuan 11,000/mt, or about $1,466/mt on an import parity basis, equivalent to Yuan 1,000/mt or 8% lower from before.