Honam Petrochemical awards xylene sell tender

29 April 2008 12:44  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea's Honam Petrochemical (HPC) has awarded its tender to sell a 2,000-tonne cargo of solvent grade xylene at $1,030/tonne, said a company source on Tuesday.

The tender, which was awarded on a FOB (free on board) Korea basis for a second-half May loading cargo, opened on Tuesday afternoon and was awarded at 1700 hours South Korea time.

The tender was awarded $10/tonne higher than a sell tender awarded by another South Korean producer last week.

The hike in price was mainly due to the steep increases in crude and naphtha values, said the source.

Solvent grade xylene was assessed $10/tonne higher at $1,010-1,030/tonne FOB Korea compared to last Friday’s close, following the awarding of this sell tender, according to global chemical market intelligence service ICIS pricing.

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By: Mahua Chakravarty
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