Taiwan’s CPC cancels tender to buy 6,000 tonnes benzene

07 March 2013 03:23  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan's CPC Corp has cancelled its tender to seek for 6,000 tonnes of benzene for first-half April arrival to Kaoshiung earlier this week, traders said late on Wednesday.

The offers received by CPC prevailed at close to a premium of $40/tonne (€30.80/tonne) to FOB (free on board) Korea quotes.

High premiums quoted were not attractive to CPC and consequently, the tender was cancelled, players said.

The tender was previously floated on 26 February and was supposed to close on 4 March, traders added.

In order to cope with its depleting inventories, CPC will adjust the operating rates at its aromatics plants accordingly with the cancellation of the buy tender.

($1 = €0.77)

By: Ong Sheau Ling
+65 6780 4359

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