Replies to post #2545 on Longwei Petroleum (fka LPIH)

[GorillaGorilla]

System mentioned here

China has now adjusted prices nine times since introducing a mechanism in December 2008 that allows the government to revise prices when crude-oil costs change more than 4 percent over 22 working days.

Can't see news stories that prices in china are changing - perhaps good news isn't news worthy? :-)

http://www.businessweek.com/news/2010-04-13/china-raises-diesel-gasoline-prices-4-6-on-crude-update1-.html

Personally, not bothered as we're not, exactly, priced for perfection. We're halfway thorough Q4 so they can try and minimise the inventory.

rich

[Traderfan]

Don't you think that the CEO knows about the situation just one week ago in the press release? You heard it right from the horses mouth. It's going to be a very positive effect. Your scenario could come true in Q1 of fiscal 2011 but not in 2010.