China’s Sinopec lifts sulphur offers by CNY30-40/tonne

31 July 2012 04:41  [Source: ICIS news]

SINGAPORE (ICIS)--China's Sinopec has lifted on Tuesday its offers for sulphur by yuan (CNY) 30-40/tonne ($5-6/tonne), a company source said.

Offers are now at CNY1,510-1,610/tonne EXW (ex-works) for liquid sulphur and at CNY1,510-1,680/tonne EXW for solid sulphur, the source said.

The price increase applies to Sinopec’s refineries in Yangzi, Anqing, Jinling, Wuhan, Zhenhai, Jinshan, Cangzhou, Yanshan, Luoyang, Gaoqiao, Maoming and Hainan, the company source said.

Sinopec’s Puguang gas field has also raised its offers for sulphur by CNY30/tonne to CNY1,580/tonne for cargoes ex-Wanzhou port, while offers for cargoes for land transport were increased by CNY40/tonne to CNY1,520/tonne EXW (ex works), the source said.

“Declining port inventories and firmer prices from Middle Eastern producers boosted market sentiment, and more enquiries appeared as a result,” an industry source said.

Offers for imported granules rose to CNY1,560-1,570/tonne at Nantong port at present, but trading volumes have not improved, a market player said.

($1 = CNY6.38)

By: Natalie Hui

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