Taiwan's CPC issues tender to buy any May shipment PX

06 April 2012 07:49  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC on Friday issued a tender to sell 5,000 tonnes of paraxylene (PX) for any May delivery, according to a company source.

Offers for the cargo should be submitted on a CFR (cost and freight) Kaohsiung basis and can either be on an outright price basis or priced against 50% Asian Contract Price (ACP): 50% spot CFR Taiwan quotes, the source said.

The buy-tender will be finalised on 11 April, the source added.

Discussions for May shipments on a CFR Taiwan/Ningbo/Taizhou basis were last heard at premiums of $16-18/tonne to 50% ACP: 50% spot CFR Taiwan quotes, according to ICIS.

CPC Corp is typically a net seller of PX and the company typically supplies feedstock to Taiwan-based purified terephthalic acid (PTA) makers such as China American Petrochemical Co (CAPCO), Oriental Petrochemical (Taiwan) and Tuntex Petrochemical.

By: Bohan Loh
+65 6780 4359

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