Sinopec has cut its domestic benzene prices in East and North China by 3-4% effective Wednesday, local industry sources said.

    
In the eastern provinces, Sinopec Shanghai, Sinopec Zhenhai Refining & chemical, Sinopec Yangzi Petrochemical and Sinopec Jiujiang were offering ex-works benzene at Yuan 6,600 ($971)/mt, down Yuan 200/mt or about 3%, from Yuan 6,800/mt on August 6.

    
Sinopec Beijing Yanshan and Sinopec Qilu also dropped their prices Wednesday offering ex-works benzene at Yuan 6,500/mt, down Yuan 300/mt or about 4%, from Yuan 6,800/mt on August 5.

    
Meanwhile, in South China, prices stood at Yuan 6,900/mt, unchanged since September 1, when they were cut by Yuan 300/mt. But local sources said Sinopec was likely to cut prices in the southern provinces by Yuan 200/mt to Yuan 6,700/mt either Wednesday or Thursday.

    
The state-owned company usually looks at FOB Korea benchmark prices,domestic demand from downstream derivative producers and benzene inventory levels at its subsidiaries across China, when adjusting its offer prices.