13 April 2012 11:35 [Source: ICIS news]
A 5,000-tonne lot of PX, to be delivered via pipeline, was sold to a southeast Asia-based purified terephthalic acid (PTA) maker at a $13-14/tonne (€10-11/tonne) premium to 50% Asian Contract Price (ACP): 50% spot CFR (cost and freight) Taiwan quotes, according to the source.
The second 5,000-tonne lot was heard destined for the export market but the company source declined further comment on details of the sale.
Other market players said that the second cargo is likely to have been sold at similar premium levels on a FOB (free on board) Map Ta Phut basis.
Price details on the 3,000-tonne benzene shipment for May loading could not be immediately confirmed but the cargo was sold on a FOB Map Ta Phut basis and priced against FOB Korea quotes,
PTTGC is a major PX supplier to Thailand-based PTA makers such as Siam Mitsui Petrochemical and Indorama Petrochemicals. PTTGC typically sells 5,000-15,000 tonnes of PX per month on a spot basis.
($1 = €0.76)
With additional reporting by Mahua Chakravarty
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|