29 November 2013 07:06 [Source: ICIS news]
SINGAPORE (ICIS) – PetroChina will settle December-delivery naphtha at yuan (CNY) 6,083/tonne, up by CNY193/tonne from November, a company source said on Friday.
The raise is a response to firming prices in international markets, according to the source.
PetroChina primarily reserves its naphtha output for captive use, but it sells excess stocks in the spot market when it is able to generate better margins through spot sales.
($1 = CNY6.09)
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