S Korea's Samsung Chemical resumes solvent oil supply to China

20 December 2011 08:34  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Samsung Chemical plans to resume solvent oils supply to China this month in view of a recovery in demand, a company source said on Tuesday.

The company halted supply to China from July to November as a result of weak demand and soft prices, according to the source.

Prices of aromatic solvent oils are going strong in China on the back of low production levels this month. No 150 solvent oils are trading at CNY8,500-8,600/tonne ($1,334-1,350/tonne) in eastern China and CNY9,000-9,100/tonne in southern China, according to C1 Energy, an ICIS service in China.

The company plans to ship 1,000 tonnes of the material to China in December, added the source.

Samsung Chemical is offering its No 150 aromatic solvent oils at $1,050/tonne (€809/tonne) on an FOB (free on board) basis, which is equivalent to CNY8,500/tonne CFR (cost & freight) China, he said.

The producer also plans to export another 2,000 tonnes of cargoes to south Asian countries, including India, this month.

($1 = CNY6.37, $1 = €0.77)

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By: Kim Lu
+65 6780 4359



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