11 January 2013 03:11 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has settled its December contract at $1,505/tonne (€1,129/tonne), down by $95/tonne from November, a company source said on Friday.
The producer’s November BD contract was revised to $1,600/tonne from its initial settlement at $1,617/tonne, pipeline delivered.
Spot prices of BD have since rebounded as buying interest has picked up, industry sources said.
BD spot prices were at $1,630-1,670/tonne CFR (cost & freight) northeast (NE) Asia in the week ended 4 January, up by $140/tonne since early December, according to ICIS data.
FPCC’s monthly BD contract price is settled on a retroactive basis.
($1 = €0.75)
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