Sinopec raises east China SBR offers on April 12, tracking others

Source: ICIS News


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)