NewsFlashHonam awards record xylene tender

28 May 2008 10:57  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea producer Honam Petrochemical has awarded a sell tender for solvent grade xylene on Wednesday at a record price $75-85/tonne higher than last Friday on surging energy values, a source with the producer confirmed.

 

 The sell tender for the 2,000 tonne cargo was awarded in the afternoon at $1,195/tonne FOB (free on board) Korea to Interchem, he said, adding the tender was announced on Wednesday morning.

 

The awarded price was $75-85/tonne higher than last Friday’s closing level of $1,110-1,120/tonne FOB Korea.

 

Prices were hiked due to the phenomenal increases in crude and naphtha values in the past few weeks, said the source.

 

Following this tender, solvent grade xylene prices were notionally assessed higher at $1,180-1,195/tonne FOB Korea, according to global chemical market intelligence service ICIS pricing.

 

For more on aromatics visit ICIS chemical intelligence

By: Mahua Chakravarty
+65 6780 4359

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