Sinopec lowered the May prices of MEG in East China by CNY700 per tonne – China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, May 3, lowered the selling price of monoethylene glycol (MEG) in eastern China by 700 yuan (CNY) or USD110 per tonne against a downtrend in the spot market – China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, May 3, lowered the selling price of monoethylene glycol (MEG) in eastern China by 700 yuan (CNY) or USD110 per tonne against a downtrend in the spot market – Sinopec May prices MEG East China - Arhive

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Sinopec lowered the May prices of MEG in East China by CNY700 per tonne

Sinopec May prices MEG East China MOSCOW – China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, May 3, lowered the selling price of monoethylene glycol (MEG) in eastern China by 700 yuan (CNY) or USD110 per tonne against a downtrend in the spot market, ICIS source in the company said.

Thus, now the company’s MEG quotes in the region are at the level of CNY7,800 or USD1,228 per tonne.

The company manages four MEG plants with a total capacity of 1.84 million tons per year.

Earlier it was noted that Sinopec in late April left May MEG selling prices in China at the level of March – CNY8 500 yuan or USD1,341 per ton.

MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).

According to the Price Review of ICIS-MRC , in Russia SIBUR increased the indicative value of its material at the Sibur-PET and Polyef plants from 100 thousand rubles. for a ton up to 105 thousand rubles. per ton, FCA plant, including VAT. There are no spot volumes. Producer Senezh last volumes of granules sold for 118 thousand rubles. per ton, CPT Moscow, including VAT. In May, the spot price of the Solnechnogorsk producer is indicative in view of the lack of free material for sale.

Sinopec Corp. is one of the world’s largest integrated energy and chemical companies. Business Sinopec Corp. includes oil and gas exploration, production and transportation of oil and gas, refining, petrochemical production, production of mineral fertilizers and other chemical products. By the volume of oil processing capacities of Sinopec Corp. occupies the second place in the world, the volume of ethylene capacity – the fourth.

mrcplast.ru

Author: Margarita Volkova

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