08 November 2013 08:22 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has finalised its November spot base oils supply volume to China at 10,000 tonnes, up from a previous plan of just 6,000 tonnes, a company source said on Friday.
Most of the cargoes were ordered by the company’s contract agents in China and about 2,000 tonnes were sold to other Chinese importers, the source said.
The cargoes were traded at $1,020-1,030/tonne (€755-762/tonne) FOB (free on board) Taiwan for Group II N150 and at $1,140/tonne for N500, the source added.
FPCC suspended spot supplies to China from July to October as the company shut its 600,000 tonne/year Group II base oils plant at Mailiao in Taiwan between early August and 5 October for maintenance.
FPCC will supply to China a combined total of around 35,000 tonnes of contractual and spot Group II base oils in November.
($1 = €0.74)
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