BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR PRIVACY & COOKIE NOTICE
X


Sinopec raises East China butadiene offers by 6% amid tight supply

Singapore (Platts)--5 Dec 2017 548 am EST/1048 GMT


China Petroleum and Chemical Corp, or Sinopec, raised its ex-works butadiene offers in East China to Yuan 9,400/mt, or $1,191/mt on an import parity basis, effective Tuesday, up Yuan 500/mt, or about 5.6%, market sources said.

The state-owned company last increased butadiene prices on November 24, when they were hiked by Yuan 400/mt to Yuan 8,900/mt.

The price hike was due to tight supply and higher naphtha feedstock costs, the sources said.

On Monday, naphtha was assessed at $586.50/mt CFR Japan, up from $579.50/mt on Friday last week, S&P Global Platts data showed.

Supply was tight in northern China as well and Liaoning Huajin Tongda Chemicals raised its offer to Yuan 9,510/mt, up Yuan 600/mt, on Monday.

--Clement Choo, clement.choo@spglobal.com

--Edited by E Shailaja Nair, shailaja.nair@spglobal.com




Copyright © 2018 S&P Global Platts, a division of S&P Global. All rights reserved.