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)
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