PetroChina cuts February naphtha price by CNY58/tonne

04 February 2013 05:33  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina has cut naphtha prices for February-delivery by CNY58/tonne ($9/tonne) from January to CNY6,363/tonne  effective from 1 February, a company source said on Monday.

The company adjusts its naphtha prices EXW (ex-works) each month by taking into account international prices in the previous month.

The company primarily reserves its naphtha stocks for captive use.

However, it sells its excess stocks in the spot market or when it can enjoy better margins in sales as compared to the margin it makes by processing naphtha 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