Taiwan’s CPC buys May PX shipment at $1,540-1,550/tonne

12 April 2012 06:51  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC Corp has bought via tender 5,000 tonnes of paraxylene (PX) for any May shipment at $1,540-1,550/tonne (€1,170-1,178/tonne), said a company source on Thursday.

The prices are on a CFR (cost & freight) Kaohsiung basis. No further details were available.

Bids for May and June PX shipments were at $1,550-1,555/tonne CFR Taiwan/Ningbo/Dalian against offers at $1,570/tonne CFR Taiwan/Ningbo, but no transactions were done by 13:00 hours Singapore time.

A May shipment was heard inter-traded on 11 April at $1,540/tonne CFR Taiwan and/or China Main Port (CMP), but this could not be confirmed.

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

($1 = €0.76)

By: Bohan Loh
+65 6780 4359

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