Iran sells first-half July ethylene at $1,650/tonne

18 June 2008 10:00  [Source: ICIS news]

SINGAPORE (ICIS news)--Iran Petrochemical Commercial Co (IPCC) has sold a 2,900-tonne ethylene cargo via tender to a Taiwanese buyer at $1,650/tonne (€1,056/tonne) for 5-10 July loading, a source close to the company said on Wednesday.

The cargo, expected to be loaded from Assaluyeh and/or Bandar Imam Khomeini (BIK), was sold on a CFR (cost and freight) basis but the buyer was not known.

The tender had closed on Tuesday afternoon.

IPCC - the commercial arm of state-owned National Petrochemical Co (NPC) - had initially planned to sell 3,500-5,000 tonnes of ethylene but the source declined to comment on the reasons for the reduction in shipment volumes.

No other spot deals were concluded so far this week, the source added.

($1 = €0.64)

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By: Peh Soo Hwee
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