Taiwan’s CPC Corp awards Jan MTBE buy-tender at floating-price premium

04 December 2017 04:07 Source:ICIS News

(Top image: Gas station in the US. Photographer Joe Sohm/REX/Shutterstock)

SINGAPORE (ICIS)--Taiwan’s CPC Corp has awarded its buy-tender for January-arrival MTBE at a floating-price premium, several market participants close to the matter said on Monday.

The tender, which closed on 28 November, was awarded after the close of business on 1 December, at a premium of $25-30/tonne on a CFR (cost & freight) Taiwan basis to FOB (free on board) Singapore quotes, they said.

The company bought a total of 10,000 tonnes of material via this tender, these sources added.

The seller was a regional trader, but further details could not be confirmed.

Meanwhile, the company is still mulling a February buy-tender, traders said.

(Top image: Gas station in the US. Photographer Joe Sohm/REX/Shutterstock)

By Trixie Yap