China’s Sinopec raises phenol prices a second time in January

08 January 2013 02:53  [Source: ICIS news]

MELBOURNE (ICIS)--Major Chinese phenol/acetone producer Sinopec increased its domestic phenol prices for a second time this month, market sources said on Tuesday.

Sinopec Beijing Yanshan increased its phenol price by yuan (CNY) 200/tonne ($32/tonne) to CNY11,000/tonne EXW (ex-works) on 7 January, market sources said.

On 1 January, the producer boosted its price by CNY100/tonnne to CNY10,800/tonne EXW, they said.

Similarly, Sinopec Shanghai Gaoqiao raised its phenol price by CNY150/tonne to CNY11,200/tonne EXW on 7 January, after implementing a CNY50/tonne price increase to CNY11,050/tonne EXW on 1 January, market sources said.

($1 = CNY6.23)

Additional reporting by Trisha Huang

By: Jenny Yi

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