Weak local demand for SB, SBS and ABS rubber forcing Sinopec to cut prices for ex-works butadiene in various regions of China between 13%-16%, effective Nov. 7
November 9, 2011
– China Petroleum and Chemical Corp., or Sinopec, decreased its prices for ex-works butadiene by 13%-16%, effective Nov. 7, Platts reported Nov. 8, citing end-users.
The cuts were due to weak demand for styrene-butadiene, styrene-butadiene-styrene and acrylonitrile-butadiene-styrene rubber. Japanese and Taiwanese cracker operators have scaled back their operating rates due to weak demand and slim margins for olefins.
Sinopec Sabic Tianjin, in North China, reported the biggest price cut across the company at 16%, selling butadiene at 13,000 yuan per tonne (US$2,048/tonne), while subsidiaries in East and South China reduced prices by 13% to 13,500 yuan/tonne, reported Platts.
The primary source of this article is Platts, New York, on Nov. 8, 2011.