Key China producers cut phenol/acetone prices

08 October 2008 12:39  [Source: ICIS news]

SHANGHAI (ICIS news)--Four major producers in China's phenol/acetone market lowered their prices on Wednesday by as much as yuan (CNY) 500/tonne ($73/tonne) due to weak demand, sources from the companies said.

The phenol/acetone producers cut their prices to stimulate the inactive domestic market due to low operating rates of downstream units, traders said, however they added it had not made much impact on the market. 

Sinopec's Shanghai branch cut its phenol and acetone prices by yuan CNY200/tonne to CNY12,300/tonne and to CNY8,600/tonne respectively, said a company source.

Sinopec's Beijing branch lowered its phenol and acetone prices by CNY200/tonne to CNY12,200/tonne and to CNY8,500/tonne ($1,248/tonne) respectively, it said.

PetroChina's Jilin branch company lowered its phenol prices by CNY100-200/tonne to CNY11,620-12,120/tonne, a company source said.

Blue Star New Chemical Materials Co Ltd lowered its phenol prices by CNY500/tonne to CNY12,200/tonne and acetone prices by CNY300/tonne to CNY8,710/tonne, a company source said.

($1 = CNY6.81)

Jessia Shen from CBI contributed to this article.

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