Taiwan’s CPC Corp issues tender to sell up to 35,000 tonnes of IX

03 January 2012 09:02  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC Corp has issued a tender to sell up to 35,000 tonnes of isomer-grade xylene (IX) for delivery though the first quarter of the year, a company source said on Tuesday.

CPC Corp is looking to sell one to two 5,000 tonne lots for January delivery and another 20,000-30,000 tonnes for February and March shipments, the source added.

Bids should be submitted by 5 January and should be valid for one day. Prices can either be fixed or on a floating price basis that will be settled against spot CFR quotes. The cargoes will be sold on a FOB Kaohsiung basis.

The company is issuing the sell tender because its IX consumption in the first quarter of the year is lower than expected, the source said.

CPC Corp is typically a nett buyer of IX which is used as feedstock in its three Kaohsiung-based paraxylene (PX) facilities with a combined nameplate capacity of 660,000 tonnes/year.

The company will shut its 250,000 tonnes/year No 2 PX unit from mid-February to mid-April for a scheduled turnaround, while its 260,000 tonne/year No 3 PX facility will be shut for a month-long turnaround in August.

For more information on xylenes, visit ICIS chemical intelligence

By: Bohan Loh
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