SINGAPORE (ICIS)--Major producer Sinopec raised its domestic offers for styrene butadiene rubber (SBR) in east China on 12 April by yuan (CNY) 300/tonne ($45/tonne), a market source said.
Yangzi Sinopec offered its east China price for non-oil grade 1502 at CNY 11,200/tonne($1,672/tonne) ex-warehouse while Qilu Sinopec offered at CNY 11,300/tonne($1,687/tonne) ex-warehouse.
A market player said the hike was unexpected and seemed a reaction following PetroChina’s move, which lifted its east China SBR offers last Friday.
Spot prices for SBR non-oil grade 1502 were assessed at CNY11,200-11,500/tonne($1,672-1,716/tonne) east China on 12 April, ICIS data showed.
($1 = CNY6.70)