23 December 2011 11:25 [Source: ICIS news]
To boost sales, the company has cut prices of its January cargoes by $10-55/tonne (€7.7-42.4/tonne) from December to $1,100-1,110/tonne on a free on board (FOB) basis, the source said.
The upcoming week-long holiday in
Downstream users usually cut back on spending before the holidays.
Moreover, the Chinese market would be in oversupply in January because overseas suppliers are sending more than 10,000 tonnes of aromatic solvent oils to the country in that month, industry sources said.
GS Caltex Petrochemical exported 8,000 tonnes of aromatic solvent oil in December at $1,120-1,165/tonne FOB.
($1 = €0.77)
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