China National Petroleum Corporation, or PetroChina, cut its South China toluene ex-factory prices by Yuan 150/mt ($23.54/mt), or 2.7%, effective Tuesday on ample supply, an industry source said.
Its South China subsidiary in Guangxi is now offering toluene at Yuan 5,450/mt or about $700.74/mt on an import-parity basis, down from Yuan 5,600/mt.
The company has started to sell some of its toluene supply in the domestic China market, with the bulk still reserved for in-house gasoline blending, the source said.
