Sinopec plans to reduce naphtha ex-refinery price for its underlying refineries to Yuan 7,090/mt in September, down by Yuan 150/mt from one month ago, a source with the refiner told C1. Ex-refinery price of naphtha supplied to eastern chemical enterprises by Tahe Refinery will drop from Yuan 6,440/mt to Yuan 6,290/mt at the same time, added the source.
Starting from Jan 1 of 2005, Sinopec adjusts its naphtha ex-refinery prices at the beginning of every month, taking average CFR Japan and average FOB Singapore in previous month as reference.
