30 November 2012 09:51 [Source: ICIS news]
SINGAPORE (ICIS)--China’s cyclohexanone exports rose by 86% month on month in October because of the opening of an arbitrage window, traders said on Friday.
An arbitrage opportunity opened for Chinese cyclohexanone cargoes to other parts of Asia because of the rise of domestic cyclohexanone prices, a trader said.
Domestic cyclohexanone prices rose to yuan (CNY) 13,400-13,500/tonne ($2,151-2,167/tonne) EXWH (ex-warehouse) east China on 30 October, up by CNY900/tonne from CNY12,500-12,600/tonne 1 September, according to Chemease, an ICIS service in China.
China exported 2,781 tonnes of cyclohexanone in October, up by 1,264 tonnes month on month and at an average of $1,656/tonne (€1,275/tonne), according to China Customs.
The data showed that China’s major cyclohexanone export destinations were India and Japan.
($1 = €0.77, $1 = CNY6.23)
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