Sinopec lowers sulphur offers in 15 refineries

09 November 2011 10:01  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec has lowered its offers of sulphur by yuan (CNY) 50-100/tonne ($8-16/tonne) in 15 of its refineries across the country on 8 November, a company source said on Wednesday.

The Chinese major lowered its internal offers in line with decreasing domestic prices and weakening downstream demand, an industry source said.

“The 15 refineries are those in Hainan, Guangzhou, Maoming, Wuhan, Zhenhai, Gaoqiao, Yangzi, Jinshan, Jinling, Qingdao, Anqing, Qilu, Tianjin, Cangzhou and Yanshan,” the source added.

“Liquid sulphur is offered at CNY1,700-1,780/tonne and solid sulphur is offered at CNY1,720-1,870/tonne,” the source said.

Puguang gas field, which is also owned by Sinopec, lowered its sulphur offers by CNY90/tonne to CNY1,750/tonne EXW (ex-works) Wanzhou port last week, the source added.

($1 = CNY6.35)

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By: Natalie Hui



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