16 April 2012 09:44 [Source: ICIS news]
“TPPI won’t even have cargoes for June [loading],” said a Western trader familiar with the matter.
Officials from TPPI could not be reached for comment.
The company runs a 550,000 tonne/year paraxylene (PX) and 360,000 tonne/year benzene facility which has been shut since 13 December.
The refiner and petrochemical producer had planned to restart its aromatics unit by May and begin spot sales again in June after they were ceased back in December 2011-January 2012, according to media reports.
TPPI sells all its PX on a monthly spot basis to various Western traders who then sell the shipments to producers of purified terephthalic acid (PTA) in eastern and southern
The company sells PX on an FOB (free on board) Tuban basis and prices the cargoes against 50% Asian Contract Price (ACP): 50% spot CFR (cost & freight) quotes.
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