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.
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