China Petroleum and Chemical Corp., or Sinopec, Monday cut the ex-works price of linear low density polyethylene in East China by Yuan 200 to Yuan 10,600/mt, a company source said.
On an import parity basis, the LLDPE price is equivalent to $1,335/mt.
This will apply to the company's East China subsidiaries -- Sinopec Shanghai, Sinopec Zhenhai Refining & Chemical and Sinopec Jiujiang.
The company adjusted the price as its inventories had increased when China was closed for public holidays last Thursday and Friday, the source said.
