Chinese Petrochina Sinopec PE PP - Arhive
Chinese Petrochina and Sinopec lowered prices of PE and PP on the background of high stocks Chinese Petrochina Sinopec PE PP
MOSCOW – The largest Chinese manufacturers, PetroChina and Sinopec, lowered their prices for polyethylene (PE) and polypropylene (PP) to get rid of a large amount of material, ICIS reported. Chinese Petrochina Sinopec PE PP
Thus, the total reserves of PE and PP PetroChina and Sinopec in the second half of November rose to 800 thousand tons, which is much higher than the usual level.
In particular, on November 20, PetroChina offered its volumes of high-pressure polyethylene (LDPE) in East China at a price of 9,300 yuan (CNY) per ton, EXWH (ex warehouse), which is CNY800 per ton lower than on October 15 of the current year.
At the same time, the company’s prices for blown low-pressure polyethylene (HDPE) were reduced by CNY1 400 per ton from the level of October 23 to CNY10 100 per ton, EXWH.
According to the ICIS-MRC price review , prices for a number of types of polyethylene continued to decline in Russia this week. Chinese Petrochina Sinopec PE PP
Most consumers expect a further decrease in PE prices in December and, against this background, limit their purchases to current needs only.
Producers of HDPE do not see reasons for price correction. In the Russian market of PP, some sellers this week attempted to once again raise the prices of propylene homopolymer (PP-homo), but in some cases, buyers refused to accept further price increases.
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.
In terms of refining capacity, Sinopec Corp. ranks second in the world, in terms of ethylene capacity – fourth.Chinese Petrochina Sinopec PE PP
PetroChina was established in 1999 by allocating CNPC assets.
The company is engaged in the exploration, development and production of oil and natural gas, as well as the processing, transportation and distribution of oil and oil products, petrochemical products and the sale of natural gas.
CNPC owns 86% of the company’s shares. The headquarters is located in Beijing, the staff of more than 500 thousand people.
mrcplast.ru
Author: Margarita Volkova