28 February 2013 08:40 [Source: ICIS news]
SINGAPORE (ICIS)--PetroChina will hike naphtha prices for March-delivery by yuan (CNY) 397/tonne ($64/tonne) from February to CNY6,760/tonne EXW (ex-works), effective from 1 March, a company source said on Thursday.
The company adjusts its naphtha prices each month by taking into account international prices in the previous month.
PetroChina 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 with the margin it makes by processing naphtha into chemicals, industry sources said.
($1 = CNY6.23)
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