Taiwan's CPC sells 3,000 tonnes OX for H1 April via tender

27 February 2013 08:37  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s state oil refiner CPC Corp has sold by tender 3,000 tonnes of orthoxylene (OX) for delivery in first-half April, market players said on Wednesday.
“The tender was awarded on 27 February,” a company source said.

The parcel was sold at $1,635/tonne (€1,259/tonne) FOB (free on board) Kaohsiung levels to a Korean trader, market sources said, but this could not be confirmed.

“After normalisation [for a 2% tariff-exemption] the price on a CFR [cost and freight] China basis would be $1,602.30/tonne, making it a good buy,” said a regional trader, citing that an OX parcel was last sold on 21 February at $1,635/tonne CFR CMP (China Main Port).

($1 = €0.77)

By: Hazel Kumari
+65 6780 4327

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