Sinopec benzene prices China - Arhive

Sinopec lowered December benzene prices in China to CNY300 per ton  Sinopec benzene prices China

Sinopec benzene prices China

MOSCOW – China China Petroleum & Chemical Corp.  (Sinopec), Asia’s largest oil refining company, on December 24 reduced the selling prices of benzene in China by 300 yuan (CNY) or USD43.4 per ton, a company source told ICIS .

This is the fourth time this month, when Sinopec lowers material prices.

Thus, the selling prices of the company’s benzene for December deliveries of material to the eastern, southern, central and northern regions of China now amount to CNY4 650 (USD673) per ton, ex-works (ex-works).Sinopec benzene prices China

The selling price of the company’s benzene at CNY4 650 per ton, ex-works, corresponds to the cost of imported material at USD571 per ton, CFR China, with immediate payment on a letter of credit, or USD578 per ton, CFR China, with a delay on payment on a letter of credit of 90 days Sinopec benzene prices China

Benzene prices in East China fell this week amid the prevailing pessimistic market sentiment.

Benzene is a raw material for the production of styrene, which, in turn, is the main raw material component for the production of polystyrene (PS).

According to the ICIS-MRC Price Review , in the Russian market, Nizhnekamskneftekhim in the middle of the month did not traditionally change PS selling prices.  Market players expect to agree on prices for the next month.  An increase in the cost of the Nizhnekamsk material is expected in January, at least by 2 thousand rubles.  per ton due to the increase in the VAT rate up to 20%.  The rest of the Russian polystyrene producers last week also left prices unchanged.

China Petroleum and Chemical Corporation (Sinopec) 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. Sinopec benzene prices China

Author:   Margarita Volkova

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