Asia aromatics prices strengthen after FCFC fire

08 December 2006 16:00  [Source: ICIS news]

SINGAPORE (ICIS News)--Asia’s benzene, toluene and mixed xylene prices increased sharply after news hit the market that a fire had broken out at Formosa Chemical and Fibre Corp’s (FCFC’s) No 2 aromatics plant at Mailiao, Taiwan, on Thursday.

 

Toluene prices increased by $30-40/tonne to $890-910/tonne (€667-682/tonne) FOB (free on board) Korea from Thursday’s assessed levels. Market players mentioned that the price increase was due to the fire at FCFC.

 

A sell tender was heard closed at $880-890/tonne FOB Korea for a January shipment, while February cargoes were heard more heavily traded at $890/tonne, $895/tonne, $900/tonne, $905/tonne, $907/tonne and $910/tonne FOB Korea.

 

Sentiment in the mixed xylene market also strengthened, especially among the sellers who withheld offers. Some of them said that offers would be withheld as they waited for more details about the shutdown and a clear price direction emerged.

 

Selling indications for isomer grade were heard in the range of $910-950/tonne FOB Korea against buying indications at $870-890/tonne FOB Korea for January.

 

Chuan Ong contributed to this story

By: Mahua Chakravarty
+65 6780 4359

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