30 September 2013 04:56 [Source: ICIS news]
SINGAPORE (ICIS)--PetroChina has settled its October-delivery naphtha at yuan (CNY) 6,245/tonne ($1,020/tonne), up by CNY240/tonne from September, a company source said on Monday.
The price is on an ex-works (EXW) basis.
The price hike is in response to strengthening naphtha values in the international markets, the source said.
PetroChina primarily reserves its naphtha output for captive use, but sells excess stocks in the spot market, or when it deems it can generate better margins through spot sales.
($1 = CNY6.12)
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