China’s Sinopec raises August naphtha price by CNY450/tonne

01 August 2012 04:44  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec has raised its price of naphtha for August-delivery by yuan (CNY) 450/tonne ($71/tonne) month on month to CNY6,070/tonne EXW (ex-works), effective from 1 August, a company source said on Wednesday.

Sinopec adjusts its naphtha price on the first day of each month and benchmarks it to Japan and Singapore’s mean prices from the previous month.

The company keeps its naphtha resources primarily for captive use. Extra stocks are sold in spot markets or when it can enjoy better margins compared with processing the feedstock into chemicals, industry sources said.

($1=CNY6.36)


By: Vivian Ma
+65 6780 4359



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