09 May 2013 05:28 [Source: ICIS news]
TAPEI (ICIS)--Taiwan’s state-owned CPC Corp is planning to sell its excess orthoxylene (OX) parcels into the spot market via tender, if all goes well, a company source said on Thursday.
“Weak demand in the domestic downstream phthalic anhydride (PA) market has resulted in a surplus of OX cargoes. We are still in the planning stage at this point and details are still unavailable right now,” said the source.
The company is currently running one out of three OX lines at 65-70% capacity ,with no plans to increase operating rates because of high feedstock mixed xylene (MX) costs and poor OX economics, the source added.
The source did not mention which unit the company is running at present.
CPC operates a 40,000 tonne/year No 1 OX unit, 60,000 tonne/year No 2 OX unit and 70,000 tonne/year No 3 unit in Linyuan.
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