China’s Sinopec raises October naphtha prices by CNY350/tonne

08 October 2012 04:28  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec has increased its prices of October-delivery naphtha by yuan (CNY) 350/tonne ($55/tonne) from September to CNY7,180/tonne EXW (ex-works), effective from 1 October, a company source said on Monday.

Sinopec adjusts its naphtha price on the first day of each month and benchmarks it to Japan’s and Singapore’s mean prices in 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 = CNY6.32)

By: Vivian Ma
+65 6780 4359

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