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China Petroleum and Chemical Corp, or Sinopec, has cut its ex-works price of orthoxylene in East China by Yuan 200/mt, or 1.9%, effective Tuesday, market sources said.
Yangzi-BASF and Sinopec Zhenhai, the company's subsidiaries in East China, are now offering OX at Yuan 10,500/mt, equivalent to $1,426/mt on an import parity basis, sources said.
Sinopec last adjusted the ex-works price of OX in East China on August 18, dropping it Yuan 300/mt to Yuan 10,700/mt.