S Korea xylene sell tender goes for $13/t lower

18 July 2007 12:21  [Source: ICIS news]

SINGAPORE (ICIS news)--A key South Korean producer of solvent grade xylene awarded a sell tender for loading during the second half of August $13/tonne lower than a similar deal made on Friday, a company source said on Wednesday.

 

The tender price was lower due to the weakening trend in Asia’s toluene prices and was falling in tandem with gasoline values, the producer said. Solvent grade xylene prices are known to be affected by toluene prices as the latter is a key aromatics product along with benzene.

 

The 2,000 tonne sell tender went at $905/tonne FOB (free on board) Korea, he said declining to reveal details of the buyer. The closing price of the tender was $13/tonne lower than Friday’s tender awarded by another Korean major, LG Petrochemical.

 

On Wednesday, toluene prices in Asia were assessed at $855-865/tonne FOB Korea, $25/tonne lower than Friday’s closing level, according to global chemical market intelligence service ICIS pricing.

 

Yeochun Naphtha Cracking Centre (YNCC), LG Petrochemical and Honam Petrochemical (HPC) produce solvent grade xylene in South Korea.

By: Mahua Chakravarty
+65 6780 4359

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