China’s Sinopec hikes February naphtha price by CNY100/tonne

04 February 2013 03:15  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec has raised the price of its February-delivery naphtha by yuan (CNY) 100/tonne ($16/tonne) from January to CNY7,000/tonne, effective from 1 February, a company source said on Monday.

The price hike on an ex-works (EXW) basis was made to reflect firming values in international markets.

Sinopec adjusts its monthly naphtha prices by benchmarking against Japan and Singapore’s mean prices in the previous month. 

The company keeps its naphtha resources primarily for captive use. Extra stocks are sold in spot markets or when the company can enjoy better margins compared with processing the feedstock into chemicals, industry sources said.

($1 = CNY6.23)

By: Lv Fei
+65 6780 4327

AddThis Social Bookmark Button

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.

Printer Friendly