Sinopec November phenol prices

Sinopec lowered November phenol prices in East China for CNY1000 per tonne  Sinopec November phenol prices

Sinopec November phenol prices


MOSCOW – China China Petroleum & Chemical Corp.  (Sinopec), the largest oil refining company in Asia, on November 24 lowered its domestic price proposals for phenol in eastern China by 1,000 yuan (CNY) or USD144 per ton following quotes in the spot market going down, a company source told ICIS . Sinopec November phenol prices

Thus, according to him, the November prices of phenol Sinopec are now at the level of CNY10,000 or USD1,439 per ton, ex-works (ex-works).

Quotations of phenol in the spot Chinese market are falling amid falling demand, a source said. Sinopec November phenol prices

So, on the spot market in China, the price offers of phenol on November 25 were about CNY10,000 per tonne, ex-tank (free tank), compared to the range in CNY10 100-10 300 per tonne, ex-tank, November 23.

The Sinopec enterprise in Caojing (Caojing, China), which can produce 135 thousand tons of phenol and 85 thousand tons of acetone per year, was closed for 40-day prevention on October 8, a source said.Sinopec November phenol prices

Phenol is the main raw material component for the production of bisphenol A (BPA), which, in turn, is used to produce polycarbonate (PC).

According to the ICIS-MRC Price Review , trends in global markets that were observed in the third quarter affected the state of the Russian PC market at the beginning of the fourth quarter.

At the end of October – beginning of November, the influence of foreign markets increased even more: the fall in the cost of PCs accelerated and the price competition between vendors of PCs from different manufacturers intensified to the maximum.

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. Sinopec November phenol prices

In terms of refining capacity, Sinopec Corp.  ranks second in the world, in terms of ethylene capacity – fourth.

Author:   Anna Larionova

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