23 November 2012 06:35 [Source: ICIS news]
SINGAPORE (ICIS) – Chinese petrochemical giant Sinopec has settled its November purified terephthalic acid (PTA) contract prices at yuan (CNY) 200/tonne lower than its October prices, but at CNY150/tonne higher month on month for feedstock paraxylene (PX), a company source said on Friday.
The November PTA contract settlements prices were finalised at CNY8,450/tonne DEL (delivered), down by CNY200/tonne from the previous month, the source said.
The November contract price for feedstock PX were at CNY150/tonne higher month-on-month at CNY11,750/tonne DEL, the source said.
The contract prices are benchmarked on monthly spot average prices, he added.
The spread between PTA cost and PTA contract price has narrowed by CNY300/tonne to CNY636/tonne in November, according to ICIS.
Sinopec lowers November Chinese PTA contract prices, but increases PX contract prices.
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