PTTGC offers 2016 term aromatics exports

OREANDA-NEWS. November 03, 2015. Thailand's state-controlled PTT Global Chemical (PTTGC) is offering up to 132,000t of benzene, paraxylene (PX) and orthoxylene (OX) for export in 2016.

Bids are due by 11 November with validity to 3 December. All bids will be submitted to a PTT pricing committee for approval before the company awards the tender.

PTTGC yesterday offered 5,000 t/month of PX for January-December 2016 loading. Bids should be submitted against the 50pc Asia Contract Price (ACP) and 50pc published cfr China/Taiwan prices.

The Thai refiner is also offering 3,000 t/month of benzene and 3,000 t/month of OX for January-December 2016 for loading from Mab Ta Phut. Bids for benzene should be submitted against published fob Korea prices or the US Contract price. OX bids are to be submitted against published fob Korea prices.

PTTGC sold its term 2015 PX exports at discounts of around \\$17-19/t to the 50pc ACP and 50pc published cfr China/Taiwan formula. Exports of benzene were concluded at undisclosed discounts likely within a range of \\$10-15/t to published fob Korea prices.

PTTGC did not award its OX tender last year, opting to sell on a spot basis instead.