SINGAPORE (ICIS)--China’s Sinopec has cut its domestic benzene list price by yuan (CNY) 300/tonne, a company source said on Thursday.
Its benzene prices in east/south/central/north China were adjusted to CNY6,000/tonne ex-works.
This is the second adjustment made by the company this week.
Cargo-holders firmed their offers at around CNY5,930-5,980/tonne ex-tank early on Thursday.
However, buyers adopted a wait-and-see stance, with bids at CNY5,700-5,800/tonne ex-tank.
The list price of CNY6, 000/tonne ex-works translates to an equivalent import parity of $736/tonne CFR China, LC at sight or around $745/tonne CFR China, LC 90 days.
($1 = CNY6.92)