26 June 2007 12:50 [Source: ICIS news]
SINGAPORE (ICIS news)--Chinese purified terephthalic acid (PTA) producer Hualian Sunshine Petrochemical has lowered its contract price for June in the domestic market by yuan (CNY) 200/tonne ($26/tonne), a company source said on Tuesday.
Its price of CNY 8,800/tonne delivered was down CNY200/tonne from the previous month but on a par with Sinopec's contract price.
The source did not provide a reason behind the price drop, but one of its customers said that Hualian Sunshine’s sales staff had told him earlier this week that its "[June] price would be in line with that of market leader Sinopec”.
But the price by Hualian Sunshine, which operates three lines in the eastern Chinese city of ?xml:namespace>
Demand for PTA has been weak in the past month, with domestic prices hovering at CNY8,400-8,500/tonne ex-warehouse for the most of June. The contract prices by the four producers have had little impact on spot numbers so far, which stayed stagnant as of 18:00
($1 = CNY7.62)
($1 = CNY7.62)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|