Taiwan’s CPC issues tender to buy 10,000 tonnes June PX

09 May 2012 07:40  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC Corp has issued a tender to buy up to 10,000 tonnes of paraxylene (PX) for June delivery, a company source said on Wednesday.

Offers should be made on a CFR (cost & freight) Kaohsiung basis and can be on an outright price basis or against the 50% Asian Contract Price (ACP): 50% CFR Taiwan quotes, the source said.

The tender will be awarded on 10 May. 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.

The company is buying PX to fulfil contracted volumes to its customers following a two-month delay in restarting its No 2 PX/orthoxylene (OX) facility in Kaohsiung for an undisclosed reason, the source said.

The unit, which can produce 250,000 tonnes/year of PX and 70,000 tonnes/year of OX, was shut in early March for maintenance and was supposed to be restarted early this month.

CPC Corp has recently sold isomer-grade xylene (IX) and toluene because of the delay in restarting the No 2 PX/OX unit as well as mounting inventory pressures.

By: Bohan Loh
+65 6780 4359

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