China’s Sinopec, PetroChina raise April naphtha prices

05 April 2012 07:54  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec and PetroChina have both increased their naphtha prices for April deliveries from their refineries to their chemical units, sources from the companies said on Thursday.

From 1 April, Sinopec refineries charged yuan (CNY) 7,940/tonne ($1,260/tonne) ex-refinery for naphtha supply to its chemical units, up by CNY410/tonne from March, according to the company source.

PetroChina increased its naphtha prices by CNY173/tonne to CNY6,911/tonne ex-refinery to its chemical units, the source from the company said.

The two companies primarily keep their naphtha resources for their own use. Surplus stock is sold either on spot markets or when the companies will enjoy higher margins selling them than processing the feedstock into chemicals, industry sources said.

($1 = CNY6.30)

By: Vivian Ma
+65 6780 4359

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