China's Sinopec proposes higher price for Apr PX

02 April 2009 04:06  [Source: ICIS news]

SINGAPORE (ICIS news)--Sinopec has proposed selling its paraxylene (PX) for April delivery within China yuan (CNY)400/tonne ($58.6/tonne) higher than the previous month due to firm demand, a company source said on Thursday.

The source said the Sinopec contract price (SPCP) for April was CNY7,000/tonne delivered (DEL), higher than the March price of CNY6,600/tonne DEL.

“Demand has been strong so far, and our downstream customers had been enquiring for products almost daily,” said the source.

Sinopec is the biggest supplier of PX to the China’s purified terephthalic acid plants. But the country has huge PX needs and has to source 60% of its requirements from overseas.

($1 = CNY6.83)

Kino Zhu of CBI China has contributed to this article.

For more on PX visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect 
Please visit the complete ICIS plants and projects database

By: Salmon Aidan Lee
+65 6780 4359

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.

Printer Friendly