Aromatics Malaysia seeks to export 5,000 tonnes PX for October

14 September 2011 08:31  [Source: ICIS news]

SINGAPORE (ICIS)--Aromatics Malaysia Sdn Berhad (AMSB) is seeking to export a 5,000-tonne paraxylene (PX) cargo for October loading, a company source said on Wednesday.

“We haven’t decided if we are going to sell on a fixed outright price or floating basis,” the source said.

The company is running its 550,000 tonne/year Kertih unit at full tilt, said the source.

AMSB last sold a September-loading PX cargo on a CFR (cost and freight) south China basis, at a price using 50% Asia Contract Price (ACP) and 50% spot average price of CFR Taiwan quotes, plus $15/tonne (€11/tonne).

In the week ending 2 September, Thailand’s PTT Aromatics and Refining (PTTAR) sold an October-loading PX cargo to a northeast Asia-based trader, at a premium close to $20/tonne. The premium applies to an FOB (free on board) Map Ta Phut price using 50:50 ACP and spot average of CFR Taiwan quotes.

Premiums for spot PX cargoes have been trading in the double-digit range since early-August because of tight supply arising from a series of production hiccups in China, as well as a heavy turnaround schedule at regional PX facilities.

($1 = €0.73)

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By: Bohan Loh
+65 6780 4359

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