05 March 2012 08:36 [Source: ICIS news]
With effect from 1 March, Sinopec’s refineries will charge yuan (CNY) 7,530/tonne ($1,195/tonne) ex-refinery for the naphtha supply to its chemical units, up by yuan CNY560/tonne from February, the sources said.
PetroChina increased its naphtha prices by CNY547/tonne to CNY6,738/tonne ex-refinery, according to the sources.
The two companies primarily keep their naphtha output for captive use.
Additional stock is sold in the spot market or when the two companies can enjoy better margins compared with processing the feedstock into chemicals, industry sources said.
($1 = CNY6.30)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections