PetroChina raises September naphtha prices by CNY700/tonne

30 August 2012 09:28  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina will raise its September naphtha prices by yuan (CNY) 700/tonne ($110/tonne) month on month to CNY5,691/tonne EXW (ex-works), with effect from 1 September, a company source said on Thursday.

The price hike was made to reflect the firming naphtha prices in international markets.

PetroChina adjusts its naphtha prices each month by taking into account of the naphtha prices in international markets in the previous month.

The company primarily reserves its naphtha stocks for captive use. PetroChina would sell its excess stocks in spot markets or when it can enjoy better margins compared with processing the product into chemicals, industry sources said.

($1 = CNY6.35)

By: Vivian Ma
+65 6780 4359

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