PTTGC sells 10,000 tonnes PX, 3,000 tonnes benzene for May loading

13 April 2012 11:35  [Source: ICIS news]

SINGAPORE (ICIS)--Thailand’s PTT Global Chemical (PTTGC) on 12-13 April sold via tender 10,000 tonnes of paraxylene (PX) and 3,000 tonnes of benzene for loading in May, a company source said on Friday.

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

By: Bohan Loh
+65 6780 4359

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