China’s Sinopec cuts sulphur offers by CNY50/tonne

07 June 2012 04:54  [Source: ICIS news]

SINGAPORE (ICIS)--China's Sinopec has cut its offers for sulphur by yuan (CNY) 50/tonne ($7.90/tonne), a company source said on Thursday.

Offers are now at CNY1,500-1,600/tonne EXW (ex-works)  for liquid sulphur and at CNY1,520-1,600/tonne EXW for solid sulphur, the source said.

The price cut applies to Sinopec’s refineries in Yangzi, Jinling, Zhenhai, Gaoqiao and Jinshan, the source added. These refineries are all in east China.

“The domestic market was weak during the week after phosphates factories made purchases in the past one to two weeks,” an industry source said.

Offers for imported granules were at CNY1,610-1,620/tonne at Nantong port during the week, but prices failed to boost sales and trading volumes were limited, a market player said.

($1 = CNY 6.36)
By: Natalie Hui

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