Sinopec cuts Gaoqiao paraffin wax unit op rates

25 August 2008 05:04  [Source: ICIS news]

SINGAPORE (ICIS news)--China’s Sinopec is operating its Gaoqiao paraffin wax refinery at 25%, or producing around 150 tonnes/day of its 600 tonne/day capacity, a source close to the company said on Monday.

The reasons were unclear but it could be due to losses in refining crude, the source added. Paraffin wax uses slack wax, which is derived from crude oil refining.

Fully refined Chinese benchmark 58/60°C grade paraffin wax was pegged at $1,800-1,850/tonne FOB (free on board) China.

Other regional producers include PetroChina and Taiwan Wax Co.

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By: Heng Hui
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