Sinopec raised August MEG prices East China CNY600 tonne - Arhive
Sinopec raised August MEG prices in East China by CNY600 per tonne Sinopec raised August MEG prices East China CNY600 tonne
MOSCOW – China China Petroleum & Chemical Corp. (Sinopec), the largest oil refining company in Asia, on July 26 in eastern China raised the August 2005 selling price of monoethylene glycol (MEG) in China by 600 yuan (CNY) or USD89 per tonne compared to the previous month, ICIS source in the company said.
Thus, the August prices of the company’s MEGs in the region will be at the level of CNY7,900 or USD1,167 per tonne next month.Sinopec raised August MEG prices East China CNY600 tonne
Prices of MEG in China are growing at the present time on the background of an improvement in the situation in the downstream markets and the fall in the national currency rate.Sinopec raised August MEG prices East China CNY600 tonne
So, spot quotes of MEG in China on July 25 were in the range CNY 7 410-7 490 or USD 1 046-1 056 per ton, and on July 2, at CNY7,080-7,130 or USD1,094-1,117 per ton.
The company manages 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 raised August MEG prices East China CNY600 tonne
According to the Price Review of ICIS-MRC , this week there were practically no free spot volumes of PET of Russian production on the market.
The trend of lower prices in the Chinese market continues. Demand for the material in August will be lower than the July level, but still at a good level. For the Russian PET producers, the outgoing season was very good.Sinopec raised August MEG prices East China CNY600 tonne
Plant Ekopet plans to start selling spot volumes of the August operating time next week. Prices have not yet been announced.Sinopec raised August MEG prices East China CNY600 tonne
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.Sinopec raised August MEG prices East China CNY600 tonne
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
Related topics