Soaring naphtha prices and fierce market competition have resulted in expected loss for Sinopec Corp in its August chemical production, after reporting huge refining losses. Prices of naphtha, a key ffeedstock in ethylene production, more than doubled from the start of the year to more than US$1200/MT, while increases in ethylene prices could not cover the higher costs.
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Thursday, September 04, 2008
Sinopec forecasts loss in Aug production
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