- China's price drops by Yuan 100-150/mt- Southeast Asia buyers wait to sell tenders



As quiet trading continued, Asian butadiene
was stable on Sept. 20, as the Asian market continued to show weakness. China's local market began
to show weakness on Sept. 20 and fell Yuan 100-150/mt. This was Yuan 9,800-10,200/mt
(or $1,223-1,250/mt) on an import parity basis. Chinese supplier Sinopec maintained its daily price at Yuan
9,00-950/mt, or $1,124-1,150/mt if you use import parity. It is cheaper to purchase imported materials than
Yuan-denominated local cargoes. Local
butadiene cargoes cost more than $200-220/mt than imported materials. According to some trading sources, Southeast Asian suppliers
will likely again issue sell tenders this week. Accordingly, there was little demand for import materials as
of Sept. 20. CFR Japan's naphtha prices
rose $19-24/mt per day to $682-700/mt on September 20. The...