China’s Sinopec cuts sulphur offers by CNY20-120/tonne

02 July 2012 04:51  [Source: ICIS news]

SINGAPORE (ICIS)--China's Sinopec has cut its offers for sulphur by yuan (CNY) 20-120/tonne ($3.27-19.02/tonne) amid weak buying interest, a company source said on Monday.

Offers are now at CNY1,450-1,600/tonne EXW (ex-works) for liquid sulphur and at CNY1,470-1,720/tonne EXW for solid sulphur, the source said.

The price cut applies to Sinopec’s refineries in Qilu, Tianjin, Cangzhou, Yanshan, Luoyang, Yangzi, Anqing, Jinling, Jiujiang, Zhenhai, Gaoqiao, Jinshan, Maoming, Guangzhou and Hainan, the source added.

The company's Puguang gas field has also reduced its sulphur offers by CNY20/tonne to CNY1,550/tonne for cargoes delivered at Wanzhou port, and those delivered by truck from Sichuan remained at CNY1,480/tonne EXW, the source added.

“Little activity was seen in the market as downstream producers showed weak buying interest and traders adopted a wait-and-see attitude,” an industry source said.

Offers for imported granules were at around CNY1,580/tonne at Nantong port at present, but prices failed to boost sales and trading volumes were limited, a market player said.

($1 = CNY 6.31)


By: Natalie Hui



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