China Petroleum and Chemical Corp., or Sinopec, has cut its ex-works prices of isomer-grade mixed xylenes in South China by Yuan 100/mt, or 1.1%, and its solvent-MX prices by Yuan 100/mt, or 1.1%, effective Wednesday, market sources said Thursday.
Sinopec Guangzhou has lowered its offers for isomer-MX to Yuan 8,900/mt, equivalent to $1,209/mt on an import parity basis, and solvent-MX to Yuan 8,700/mt, or $1,170/mt on an import parity basis.
The ex-works solvent-MX offers from Sinopec Zhanjiang Dongxing fell by Yuan 100/mt to Yuan 8,750/mt, while Sinopec Maoming cut its ex-works solvent-MX offers to Yuan 8,600/mt.
Sinopec last adjusted its isomer-MX and solvent-MX prices in South China on November 7 where it raised its isomer-MX and solvent-MX offers by Yuan 100/mt.