Xiang Lu, BP Zhuhai lower Sep PTA by CNY500/t
28 September 2007 05:51 [Source: ICIS news]
SINGAPORE (ICIS news)--Xiang Lu Petrochemical and BP Zhuhai have finalised their price for September purified terephthalic acid (PTA) down yuan (CNY) 500/tonne ($67/tonne) in the Chinese domestic market, company officials said on Friday.
The duo’s September price of CNY8,000/tonne delivered is on par with the price that Sinopec announced earlier this week.
A fourth major, Hualian Sunshine Petrochemical, has yet to finalise its September price.
“Demand has been slow in September in general, so the price drop was only to be expected,” said the official from Xiang Lu.
An official from Hualian Sunshine said his company would likely finalise its September price after the week-long National Day holidays in
The four producers’ August price was CNY8,500/tonne delivered.
($1 = CNY7.51)
By: Salmon Aidan Lee
+65 6780 4359
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