Taiwan’s CPC sells PX via tender-sources

02 May 2008 09:48  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s CPC Corp has sold a paraxylene (PX) cargo via tender this week, industry sources said on Friday.

The producer had issued a sell tender for a 5,000-tonne cargo to be delivered within the period of 16 May to 15 June, said a potential buyer who had received the invitation.

The tender had closed on Wednesday (30 April) morning and the price was linked to a formula based on the average of three weeks of spot prices during open market trading, he added.

CPC officials could not be reached for comment while a Japanese trader said the cargo had been sold to China.

PX spot prices on Friday were largely stable compared to Thursday’s close at $1,300-1,315/tonne CFR (cost and freight) Taiwan, according to global chemical market intelligence service ICIS pricing.

For more on PX, visit ICIS chemical intelligence.

By: Peh Soo Hwee
+65 6780 4359

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