11 September 2012 09:06 [Source: ICIS news]
SINGAPORE (ICIS)--China's major Sinopec has cut its offers for liquid and solid sulphur by yuan (CNY) 30-60/tonne ($4.7-9.5/tonne) from the 10 September’s close amid a weak buying sentiment in the market, a company source said on Tuesday.
It is for the second time that Sinopec has cut sulphur offers this month.
The liquid sulphur prices were reduced to CNY1,410-1,590/tonne EXW (ex-works) and solid sulphur prices were brought down to CNY1,450-1,680/tonne EXW on 11 September, the source added.
Players were still pessimistic about the market outlook leading to weak trading sentiment, a market player said.
The price decline applies to Sinopec’s refineries located in Hainan,
Sinopec’s Puguang gas field has also cut its offers for sulphur by CNY 60/tonne to CNY1,480/tonne EXW for cargoes at Wanzhou port and CNY1,450/tonne EXW for truck deals at Dazhou in
($1 = CNY6.34)
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