S Korea’s SK Energy to export 1,000t solvent oils to China in Aug

03 August 2012 09:31  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s SK Energy plans to export 1,000 tonnes of No 100 solvent oils to China in August, unchanged from its July volumes, a company source said on Friday.

The supplier priced its August deliveries at $1,070-1,100/tonne (€877-902/tonne) cost & freight (CFR) China Main Port, $50-80/tonne higher than its July offers, according to the source.

The price increase was in line with firmer crude futures, he added.

These prices leave Chinese importers with a profit margin of yuan (CNY) 50-150/tonne ($8-24/tonne), traders said.

Chinese importers have been actively purchasing SK Energy’s products on the back of bullish futures and strengthening domestic demand, according to traders.

($1 = €0.82)
($1 = CNY6.37)

By: Kim Lu
+65 6780 4359

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