Taiwan’s FPCC raises spot prices of base oils to China

04 September 2012 08:25  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has raised its spot prices for Group II base oils supplying to China in September by $10-20/tonne (€7.90-15.80/tonne) from last month, a company source said on Tuesday.

The company decided to supply 2,000 tonnes of spot Group II N150 base oils to China this month at $1,020-1,030/tonne FOB (free on board), the source added.

FPCC’s global supply of Group II base oils will remain flat at 45,000 tonnes in September, including about 20,000 tonnes of both term and spot cargoes to the Chinese market, the source said.

However, no spot cargoes of Group II N500 will be available for September delivery because of an ongoing maintenance at the company’s 600,000 tonne/year base oils plant at Mailiao, the source said.

The company plans to restart the plant on 15 September, after a 45-day turnaround, the source added.

Prices of Group II base oils in the Asian spot market are expected to firm during the consumption peak in September, although supplies will rebound along with FPCC’s plant restart, major base oils traders in China said.

By: Whitney Shi
+65 6780 4359

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