30 November 2012 09:33 [Source: ICIS news]
SINGAPORE (ICIS)--Chinese major Sinopec cut its offers for liquid and solid sulphur by yuan (CNY) 20-140/tonne ($3.20-22.50/tonne) on 30 November amid high inventory, a company source said on Friday.
The liquid sulphur prices were reduced to CNY1,300-1,380/tonne EXW (ex-works) and solid sulphur prices were lowered to CNY1,350-1,450/tonne EXW on 30 November, the source added.
“China’s domestic sulphur market was sluggish this week, and prices continued to drop. Downstream fertilizer producers showed little buying interest in sulphur because of their low operating rates,” an industry source said.
The price decline applies to Sinopec’s refineries located at Qilu, Qingdao, Guangzhou, Hainan, Maoming, Zhenhai, Anqing, Gaoqiao, Yangzi, Jinling, Shanghai, Jiujiang, Wuhan, Luoyang, Tianjin, Cangzhou and Yanshan, the source said.
Sinopec’s Puguang Gas Field has also cut some of its sulphur offers on 30 November.
The company lowered its EXW prices by CNY20/tonne to CNY1,290/tonne for trucked goods at Dazhou in Sichuan, and by CNY60/tonne to CNY1,360/tonne ex-Wanzhougang port, the company source said.
($1 = CNY6.23)
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