China's Sinopec cuts sulphur offers by CNY60-250/tonne

18 April 2012 09:57  [Source: ICIS news]

SINGAPORE (ICIS)--China's Sinopec has cut its offers for sulphur by yuan (CNY) 60-250/tonne ($9.52-39.7/tonne) on 18 April, a company source said on Wednesday.

Following the adjustment, offers for liquid sulphur are at CNY1,600-1,680/tonne EXW (ex-works) and offers for solid sulphur at CNY1,480-1,820/tonne EXW, the source said.

The price cut will apply to deliveries from Sinopec's refineries in Yangzi, Wuhan, Anqing, Jinling, Cangzhou, Yanshan, Tianjin, Luoyang, Maoming, Qilu, Guangzhou, Jiujiang and Hainan, according to the source.

The company's Puguang gas field has also reduced its sulphur offers by CNY60/tonne EXW on 18 April, with cargoes delivered at Wanzhou port at CNY1,550/tonne EXW and those delivered by truck from Sichuan at CNY1,570/tonne EXW, the source added.

The price decrease has dampened market sentiment, with most traders suspending their offers and market players adopting a wait-and-see attitude, said an industry source.

Sinopec had earlier cut its sulphur offers on 6 April by CNY30-50/tonne.

($1 = CNY6.30)

By: Natalie Hui

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