Taiwan’s CPC buys 5,000 tonnes June PX; cancels second tender

11 May 2012 04:27  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC Corp has bought a 5,000-tonne cargo of paraxylene (PX) for June delivery, and decided to cancel its second buy tender with the same volume because of high offers, a company source said on Friday.

The company issued the tender for up to 10,000 tonnes of June PX, on a cost and freight (CFR) Kaohsiung basis, early this month.

“We bought one lot for June at a small premium to average of spot CFR Taiwan quotes,” the company source said.

The company has been buying PX because of a two-month delay in the restart of its No 2 Kaohsiung PX/orthoxylene (OX) unit.

CPC Corp, which is typically a net seller of PX, supplies feedstock to Taiwan-based purified terephthalic acid (PTA) makers, such as China American Petrochemical Co (CAPCO), Oriental Petrochemical (Taiwan) and Tuntex Petrochemical.

By: Bohan Loh
+65 6780 4359

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