23 November 2012 03:46 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Sinopec has cut its orthoxylene (OX) list prices by yuan (CNY) 200/tonne ($32/tonne) to CNY10,800/tonne EXW (ex-works), a company source said on Friday.
The company reduced its list price in line with the weaker demand from the phthalic anhydride (PA) sector in the domestic market, industry sources said.
PA prices were assessed at CNY10,650/tonne EXWH (ex-warehouse) east China on 22 November, down by CNY200/tonne since 16 November, according to Chemease, an ICIS service in China.
Spot prices of OX are expected to continue falling in the near future because of weak PA demand, with the market participants expecting the outlook of the market to be weak, an industry source said.
($1 = CNY6.24)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections