Taiwan’s FPCC sells 1,000 tonne Nov spot N500 base oils to China

23 October 2012 05:08  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has sold 1,000 tonnes of spot base oils to China for November delivery, a company source said on Tuesday.

The volume, which is Group II N500 grade, was traded at $1,060-1,070/tonne (816-824/tonne) FOB (free on board) Taiwan, compared with $1,090/tonne for August spot cargoes, the source said.

About 12,000 tonnes of Group II base oil supply to China on contract basis have been confirmed for November, comparing with 20,000 tonnes in October, the source added.

FPCC halted spot base oil supplies to China in September and October because of a plant shutdown in July-September.

($1 = 0.77)

By: Whitney Shi
+65 6780 4359

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