China Petroleum and Chemical Corp., or Sinopec, raised its ex-works price for polypropylene in East China by Yuan 200/mt ($31.80/mt), or 1.9%, to Yuan 11,000/mt Friday, a company source said.
On an import parity basis, the new price is equivalent to $1,403/mt. This will apply to the company's East China subsidiaries -- Sinopec Shanghai, Sinopec Zhenhai Refining & Chemical and Sinopec Jiujiang.
Sinopec last adjusted its East China PP price on December 14, cutting it by Yuan 200/mt to Yuan 10,800/mt.
