Taiwan’s FPCC sells more spot base oils to China for November

09 November 2012 08:29  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has so far sold around 3,000 tonnes of spot base oils to China for November delivery, a company source said on Friday.

The company has resumed spot supply to China after a two-month halt. The volumes sold for November are a combination of Group II N500 and N150 grades, the source said without providing the breakdown.

Spot Group II N500 base oils were traded at $1,060-1,070/tonne (€827-835/tonne) FOB (free on board) Taiwan, down by $20-30/tonne from August prices, while spot N150 grades were sold at $980/tonne, the source said.

Base oil contract volumes from FPCC to China has so far reached 22,000 tonnes, including some delayed cargoes from October, the source said.

($1 = €0.78)

By: Whitney Shi
+65 6780 4359

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