Taiwan’s FPCC cuts China February base oil exports by 33%

12 January 2012 07:14  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) is planning to supply China with about 20,000 tonnes of Group II base oils in February, a decline of 33% from the previous month, as it expects demand to be weak, a company source said on Thursday.

The 20,000-tonne volume includes about 7,000 tonnes of spot products, the source said.

FPCC raised the prices of its February spot cargoes by $50-80/tonne (€40-63/tonne) from January’s level for delivering to China.

Domestic Group II base oil prices will remain weak in February because of ample supply, traders said.

FPCC’s China supply reached 50,000 tonnes for the first two months, while CNOOC restarted its 400,000 tonne/year Group II base oil plant at Huizhou in late December last year, they added.

($1 = €0.79)

Please visit the complete ICIS plants and projects database


By: Whitney Shi
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly