02 May 2012 13:38 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s CPC issued a tender on Wednesday to sell up to 20,000 tonnes of isomer-grade xylene (IX) for May and June loading, according to market sources.
CPC will resell up to four 5,000 tonne lots of IX for May and June loading on a FOB (free on board) Kaohsiung basis. The cargoes will either be priced against the average of CFR (cost & freight) quotes or an outright price basis. Bids should be valid up to 4 May.
It was not known why CPC is reselling its IX, which it typically feeds into its paraxylene (PX) and orthoxylene (OX) units in Kaohsiung, but some traders said the sell tender could point towards a delay in the restart at the company’s No 2 PX/OX facility, which is also in Kaohsiung.
CPC was scheduled to restart its No 2 PX/OX unit by early May following a two-month maintenance shutdown. The plant was shut in early March and has a nameplate capacity of 250,000 tonnes/year of PX and 70,000 tonnes/year of OX.
Company officials could not be reached for comment.
CPC had to cancel a tender to sell 10,000 tonnes of IX for second-half April and first-half May loading on 12 April because of “low bids”. The company last resold an undisclosed amount of IX in January.
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