26 February 2014 08:17 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) will increase its average monthly supply of Group II base oils to China to around 30,000 tonnes starting April, a company source said on Wednesday.
The new monthly volume represents an increase of about 20% to the company’s contract buyers in China, the source said.
FPCC has two new first-tier distributors in China, according to a source from one of FPCC’s China-based sale agents.
Although the overall volume will increase, contractual supply to some of the company’s existing distributors will decline this year because of higher prices of the material, the source said.
FPCC has a 600,000 tonne/year Group II base oils plant at Mailiao in Taiwan. The company usually sells Group II base oils to its first-tier distributors and large lubricant producers in China on contract basis.
In March, the company plans to supply 44,000 tonnes of combined spot and contractual base oils cargoes to China.
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