13 April 2011 08:47 [Source: ICIS news]
SINGAPORE (ICIS)--Iran’s Petrochemical Commercial Co (PCC) has declared force majeure (FM) on paraxylene (PX) supply for April loading after shutting down its 750,000 tonne/year unit in Asaluyeh, a company source said on Wednesday.
“We shut the unit on 11 April after experiencing issues with the heater. We will need at least three weeks to perform the required repairs to the tubing,” the company official told ICIS.
The company can export up to 50,000-55,000 tonnes/month of PX, according to the source.
“We have also cancelled all vessels due for loading in April,” he added.
PCC sells PX to end-users in Pakistan, China as well as southeast Asia.
Meanwhile, spot PX prices for May delivery remained on a downtrend on the back of weak buying appetite among end-users. A parcel was heard sold towards China at $1,590/tonne (€1,097/tonne) CFR (cost & freight) China Main Port (CMP) L/C 90 days on Wednesday, down by $15/tonne from the previous day.
($1 = €0.69)
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