China Petroleum and Chemical Corp., or Sinopec, has raised its ex-works butadiene offers in eastern China on Friday to Yuan 11,000/mt, or about $1,337/mt on an import parity basis, up Yuan 500/mt or 4.8% day on day, market sources said.
The last time the state-run company increased prices was on April 21, when it went up Yuan 500/mt day on day to Yuan 10,500/mt.
The price hike comes amid the second-quarter turnaround season in China, which has reduced domestic butadiene production.
Shanghai Secco completed a 30-day maintenance program for its 90,000 mt/year butadiene extraction unit in April.
Qilu Petrochemical is expected to shut its 56,000 mt/year and 55,000 mt/year units at Shandong on May 5 for planned maintenance until June 20.
