24 April 2009 10:23 [Source: ICIS news]
Correction: In the ICIS news story headlined “Sinopec finalises higher PTA, MEG prices for Mar in ?xml:namespace>
SHANGHAI (ICIS news)--China’s Sinopec has finalised its prices for purified terephthalic acid (PTA) and monoethylene glycol (MEG) sold within the domestic market in April at sharply higher levels due to strong demand and tight supply, company officials said on Friday.
The PTA price was pegged at yuan (CNY) 7,300/tonne ($1,069/tonne) DEL (delivered), while the MEG price was CNY4,600/tonne DEL.
These numbers represented jumps of CNY1,050/tonne and CNY900/tonne respectively from the previous month’s final values.
“Demand has been strong, and we don’t have too much to sell anyway,” said one of the Sinopec officials.
($1 = CNY6.83)
Clytze Yan and Freya Tang of CBI China contributed to this article
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