China naphtha prices linked to outside benchmarks

Stepping out in the world of international markets, Sinopec Corp said that, beginning January, it had linked its domestic naphtha price to Asian benchmarks ahead of supplying two new joint-venture plants scheduled to begin operating soon. Quoting Sinopec officials, Reuters said ex-refinery prices for naphtha would be updated the first day of each month and linked to Singapore and Japanese spot prices on a one-month retroactive basis.