Sinopec October MEG prices EastChina - Arhive
Sinopec reduced October MEG prices in East China for CNY600 per tonne Sinopec October MEG prices EastChinahina
MOSCOW – China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, lowered October selling prices for monoethylene glycol (MEG) in eastern China by 600 yuan (CNY) or USD87 per ton, a company source told ICIS on Friday.
Thus, from September 28, MEG company prices in the region are set at CNY7,500 or USD1,088.5 per tonne, the source said.Sinopec October MEG prices EastChina
Spot quotes on material in China declined last month. So, on September 27, they were in the range of CNY7 190-7 280 per ton against the level of CNY8 140-8 220 per ton on September 3.Sinopec October MEG prices EastChina
The company operates four MEG plants with a total capacity of 1.84 million tons per year.
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET). Sinopec October MEG prices EastChina
According to the ICIS-MRC Price Review , in October, the downward trend in demand in the Russian PET market is expected to continue.
The cost of material for contract customers will increase this month by about 3 thousand rubles. per ton. A rise in spot prices is not expected.
According to one of the manufacturers, the market in Russia is gradually moving into a phase of excess of supply over demand for material. Sinopec October MEG prices EastChina
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.
mrcplast.ru
Author: Margarita Volkova