09 January 2012 08:59 [Source: ICIS news]
The cargo was sold at around $1,260/tonne (€995/tonne) FOB (free on board)
“The winner is most likely a Japanese trading house,” a northeast Asia-based trader said.
A source from CPC Corp declined to comment on the volume sold and the price at which the sale was concluded.
However, the company source confirmed that the sale was done on a fixed-price basis.
CPC Corp issued a tender to sell up to 35,000 tonnes of IX for loading in January-March on 3 January, which comprised one to two 5,000 tonne lots for delivery in January and 20,000-30,000 tonnes for shipment in February and March.
The company issued the tender because its IX consumption in the first quarter of this year is lower than expected, the source said.
CPC Corp is typically a net buyer of IX, which is used as feedstock at its three Kaohsiung-based paraxylene (PX) facilities with a combined nameplate capacity of 660,000 tonnes/year.
The company will shut its 250,000 tonne/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.
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