Taiwan’s CPC Corp sells 10,000 tonnes PX for Sept via tender

20 August 2013 09:32  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC Corp has sold by tender a 10,000-tonne paraxylene (PX) cargo for September loading, industry sources said on Tuesday.

The tender was heard sold at a higher premium of around $19-20/tonne (€14-15/tonne) to a free-on-board (FOB) Kaoshiung price, which is derived from 50% Asian Contract Price and 50% spot average CFR (cost and freight) Taiwan values, according to several market participants.

In the previous tender, CPC sold 10,000 tonnes of PX for delivery in July at a premium of around $11-14/tonne.

CPC Corp, typically a net seller of PX, supplies feedstock to Taiwan-based purified terephthalic (PTA) makers, such as China American Petrochemical Co (CAPCO), Oriental Petrochemical (Taiwan) and Tuntex Petrochemical.

By: Samuel Wong

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