OREANDA-NEWS. April 15, 2013. China Petroleum and Chemical Corp., or Sinopec, slashed its ex-works prices for butadiene in East China by 7% effective late Tuesday, market sources said.

Butadiene offers from Sinopec's subsidiaries across East China -- Yangzi Petrochemical, Shanghai Petrochemical, and Zhenhai Refining and Chemical -- are now at Yuan 13,000/mt or about USD1,736/mt on an import parity basis, down Yuan 1,000/mt from previously.

Sinopec last adjusted butadiene offers in East China on March 13, when it cut prices by Yuan 800/mt.

Sinopec's latest price cut came after another local butadiene producer, Panjin Ethylene Industry, cut its prices by Yuan 2,500/mt to Yuan 11,000/mt.

The butadiene price cuts are due to poor demand from producers of butadiene rubber and styrene-butadiene rubber, market sources said.