14 June 2012 09:53 [Source: ICIS news]
SINGAPORE (ICIS)--Southeast Asia-origin paraxylene (PX) was transacted at a discount for the first time in more than one year amid spiralling Brent crude futures, squeezed purified terephthalic acid (PTA) margins and weak demand, market sources said on Thursday.
A 5,000 tonne July shipment was transacted at a single-digit discount to 50% Asian Contract Price (ACP): 50% spot CFR (cost & freight) Taiwan quotes on a FOB (free on board) southeast (SE) Asia basis during the week.
A second 5,000 tonne July shipment was heard being negotiated at a double-digit discount of up to $20/tonne (€16/tonne) against the 50% ACP: 50% spot CFR Taiwan quotes formula on a FOB SE Asia basis.
The last time southeast Asia-origin PX was sold at discounts was in April-May 2011.
($1 = €0.80)
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