PetroChina raises January naphtha price by CNY572/tonne

07 January 2013 07:24  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina has hiked its naphtha price for January delivery by CNY572/tonne ($92/tonne) from December to CNY6,421 effective from 1 January, a company source said on Monday.

The price is on an ex-works (EXW) basis and the rise is in line with firming prices in international markets.

The company adjusts its naphtha prices each month by taking into account prices in international markets in the previous month.

The company primarily reserves its naphtha stocks for captive use. It sells its excess stock in spot markets or when it can enjoy better margins compared with processing the product into chemicals, industry sources said.

($1 = CNY6.23)

By: Amy Sun
+65 6780 4359

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