03 May 2013 08:37 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has received orders for 20,000 tonnes of Group II base oils for delivery in May from China’s contract buyers, down by 20% month on month, a company source said on Friday.
FPCC will continue to halt its spot supply to China in May, as it is still building up inventories ahead of its planned refinery maintenance in July, according to the source.
The suspension of spot supply from FPCC will not pose any significant impact on the Chinese markets, as demand in the country remains weak, traders said.
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