Sinopec Cuts Butadiene Price in East China by 5.4% to Yuan 14,000/mt

China Petroleum and Chemical Corp, or Sinopec, has cut its ex-works prices of butadiene in East China by 5.41% effective Wednesday, market sources said.

Offers from Sinopec's subsidiaries in eastern China, Yangzi Petrochemical, Shanghai Petrochemical, and Zhenhai Refining and Chemical, are now Yuan 14,000/mt or around $1,870/mt on an import parity basis, down Yuan 800/mt.

China's butadiene requirements have been falling on weak downstream demand from butadiene-rubber and styrene-butadiene-rubber producers, and rumors of liquidation of butadiene cargoes by traders in the market.

(platts.com Mar 13.2013)