Butadiene Price for Domestic Consumers Hikes in ChinaSep 19th, 2017
The ICIS source reports that China Petroleum & Chemical Corp. (Sinopec), a major Chinese refiner in Asia, since September has raised the domestic price for butadiene by CNY400 (USD62). The price rise, fixed on Ex Works levels (EXW), will affect eastern and northern regions of China.
A Chinese EXW revealed that ex-works butadiene price for Northeast China is estimated at CNY 11.700 or USD 1.811 per tonne.
Initially, Sinopec made a decision to increase the butadiene price by CNY500 (USD77) for the eastern Chinese end-users, which is CNY11. 300 (USD 1.749) per tonne.
Butadiene is a core material for the polymer industry. It is polymerized to produce synthetic rubbers (ABS, SBR or SB latex) and is also applied for the production of plastics, 3-butylene glycol, chloroprene, cyclododecatriene, etc.
The price leap was caused by its tight supply, whereas in contrast, the butadiene demand is only growing. This has caused a USD 60 rise in butadiene price.
Sinopec is among global leaders in refining, energy and chemical industries and a major brand owner of agrochemicals and inorganic fertilizers. As a petrochemical producer and supplier, Sinopec is number two in the top of global refineries and has the fourth position among global ethylene producers.