LG Chem awards solvent xylene tender lower

13 December 2007 09:27  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korean aromatics producer, LG Chem has awarded a tender to sell 2,000 tonnes of solvent-grade xylene at price lower than the previous week, due to weak demand, a company source said on Thursday.

 

The producer awarded the tender at $895/tonne (€609/tonne) FOB (free on board) Korea, $5-$10/tonne lower than last week’s published prices.

 

The cargo is for loading between end-December and early January.

 

The lower awarded value was due to poor demand from the key Chinese market as the year-end lull period and festival season approached, the source added.

 

Lower isomer grade xylene values this week, notionally assessed at $925-$940/tonne FOB Korea, was cited as another reason for sellers’ willingness to lower numbers.

 

Solvent grade xylene prices  in Asia were assessed at $895-$910/tonne FOB Korea, $5-$10/tonne lower than last week, according to global chemical market intelligence service ICIS pricing.

 

($1 = €0.68)

By: Mahua Chakravarty
+65 6780 4359

< previous article(ICIS Chemical Business podcast November 2, 2009)

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