01 August 2011 00:00 [Source: ICB]
REFINERY FIRE RAISES PRICES OF AROMATICS
China's prices of xylene, benzene and toluene have surged as a result of tightened supply caused by a July 11 fire at the 240,000 bbl/day China National Offshore Oil Corp. (CNOOC) refinery in Guangdong province. Xylene producers Qinzhou Petrochemical and Guangzhou Petrochemical - raised their offers for xylene by yuan (CNY) 200/tonne ($31/tonne) to CNY9,700/tonne ex-works (EXW) and CNY9,500/tonne EXW, respectively on July 12.
LOW SUPPLY HITS HDPE PIPE GRADE PRICES
Reduced production has caused the price of natural color high density polyethylene (HDPE) pipe grade to rise by 7.7% since early July, traders said. Locally-produced product was selling at around yuan (CNY) 11,700/tonne ($1,812/tonne) in eastern China during the week ended July 22, CNY900/tonne higher than the price on July 1, as assessed by Chemease, an ICIS service in China. Shanghai Petrochemical reduced its monthly output by half to 6,500 tonnes in July.
JILIN PETCHEM, TIANJIN SODA LIFT 2-EH PRICES
Chinese oxo-alcohol producers Jilin Petrochemical and Tianjin Soda Petrochemical have raised their domestic prices of 2-ethylhexanol (2-EH), by yuan (CNY) 200/tonne (US$31/tonne) and CNY150/tonne respectively. Excluding taxes, Jilin's new 2-EH list prices, effective July 20, were revised to CNY14,300-14,500/tonne ex-tank. Tianjin Soda's prices were set at CNY14,350-14,550/tonne ex-tank, excluding taxes.
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