25 May 2009 04:26 [Source: ICIS news]
SINGAPORE (ICIS news)--?xml:namespace>
The company hiked its May PTA price by yuan (CNY)300/tonne ($44/tonne) or 4.1% from the previous month to CNY 7,600/tonne delivered due to “strong demand among many of our customers,” said one of the sources.
For MEG in the same month, prices were lowered by CNY100/tonne or 2.3% to CNY 4,500/tonne delivered, said another source.
“Supply for MEG had been generally sufficient, so the price change was just a small one,” said the second source.
State-affiliated Sinopec is the largest supplier of the two fibre intermediates in the Chinese domestic market.
The major production bases of PTA and MEG in China include Yangzi Petrochemical’s plants in
($1 = CNY6.82)
Clytze Yan and Freya Tang of CBI China contributed to this article
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