China Sinopec MEG contract prices October - Arhive
Sinopec lowered MEG’s contract prices for CNY310 per tonne in October China Sinopec MEG contract prices October
MOSCOW – China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, on October 24 set October contract prices for mono-ethylene glycol (MEG) in eastern China at 310 yuan (CNY) or USD44.7 per ton lower compared to the previous month, a company source told ICIS .China Sinopec MEG contract prices October
Thus, Sinopec reduced the October contract price of MEG for the eastern regions of China to CNY7,770 per tonne or USD11,195 per tonne amid weak demand in the spot market.
MEG prices declined in the face of declining demand in the polyester market.
The company operates four MEG plants with a total capacity of 1.84 million tons per year.
The spot prices of MEG decreased this month, since on October 23 the prices of MEG were CNY7 100-7 240 per ton, whereas on October 8 they were at the level of CNY7 400 – 7 500 per ton.China Sinopec MEG contract prices October
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).China Sinopec MEG contract prices October
According to the ICIS-MRC price review , the supply of injection-molded PET granules from non -CIS countries to Russia in September amounted to 10.1 thousand tons against 10.5 thousand tons a month earlier and 3 thousand tons in September last year.
Imports from South Korea last month amounted to 0.5 thousand tons.
In the first nine months of 2018, imports of molded PET in the Russian Federation increased by 29% to 97.2 thousand tons against 75.4 thousand tons for the same period last year. China Sinopec MEG contract prices October
The share of South Korean imports from January to September was 10% (9.5 thousand tons), as was the share for the same period last year (7.6 thousand tons).
Sinopec Corp. is one of the world’s largest integrated energy and chemical companies.
Business Sinopec Corp. includes oil and gas exploration, extraction and transportation of oil and gas, oil refining, petrochemical production, the production of mineral fertilizers and other chemical products. China Sinopec MEG contract prices October
In terms of refining capacity, Sinopec Corp. ranks second in the world, in terms of ethylene capacity – fourth.China Sinopec MEG contract prices October
mrcplast.ru
Author: Anna Larionova