China’s Sinopec, PetroChina raise March naphtha prices

05 March 2012 08:36  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec and PetroChina have increased their prices of March-delivery naphtha, from their refineries to their chemical units, because of firmer crude prices, company sources said on Monday.

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)

By: Vivian Ma
+65 6780 4359

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