29 March 2013 06:20 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has finalised its contractual supply of Group II base oils to China at 25,000 tonnes in April, down by about 29% month on month, a company source said on Friday.
The company continued to halt spot supplies in view of falling production, the source explained.
FPCC has been running its 600,000 tonne/year Group II base oils plant at Mailiao in Taiwan at a lower capacity since early March as margins in the production of gasoline and gasoil are higher, added the source.
Meanwhile, FPCC also adjusted the volumes of different grades supplied to China in newly extended contracts starting from April, the source said.
The company will supply Group II N150 and N500 in a volume ratio of 1:3 in view of sufficient domestic supply of N150 base oils in China, the source added.
FPCC supplied equal volumes of Group II N150 and N500 grades in its previous contracts.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections