04 June 2010 06:34 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s CPC Corp has issued a tender to purchase 5,000 tonnes of paraxylene (PX) for delivery in the first half of July, a company source said on Friday.
The tender would close on 9 June, the source added.
CPC last bought 10,000 tonnes of PX for delivery in July on a formula basis, at a discount of around $10-15/tonne (€8.2-12.3/tonne) to fulfill term contract obligations, the source said.
The company had become an active spot buyer of PX after it shut down its 250,000 tonne/year No 2 facility at Kaohsiung in early May for maintenance, the source added.
CPC has extended the shutdown of the plant, which was initially scheduled for 45 days, to the end of July due to poor margins, the source said.
The company’s two other PX facilities at the same site were operating at full capacity in June, the source added.
($1 = €0.82)
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