Sinopec, PetroChina cut ex-works E China orthoxylene prices by Yuan 200 per mt
Source: www.chinamining.org Citation: Platts Date: September 3, 2014
China Petroleum and Chemical Corporation, or Sinopec, has cut its ex-works orthoxylene prices in East China by Yuan 200/mt ($27.20/mt) effective Monday, September 1, traders said Tuesday.
Yangzi-BASF and Sinopec Zhenhai, the company`s subsidiaries in East China, are now offering OX at Yuan 8,600/mt, equivalent to $1,169/mt on an import parity basis, sources said.
PetroChina, the other major Chinese OX producer, has also cut its OX prices in East China by Yuan 200/mt on Monday, sources said.
PetroChina`s subsidiaries, Liaoyang Petrochemical and Jilin Petrochemical, are now offering OX at Yuan 8,300/mt, or about $1,128.20/mt on an import parity basis.
Both companies last adjusted their ex-works OX prices in East China on August 28, also lowering them by Yuan 200/mt.
OX was last assessed by Platts at $1,180/mt CFR China on August 29, down $29/mt week on week.
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