Indian petrochemical producer, OMPL Mangalore Petrochemicals has offered up to 54,000t of benzene to overseas buyers through a tender issued today.
The tender invites buyers to submit bids for 6,000t of benzene each month for shipment during February-March and June-December 2020, a total of nine months.
Bids are to be submitted by 8 January with validity until 10 January.
Negotiations for 2020 term contracts are continuing throughout Asia-Pacific. Many producers made offers later than usual.
Contracts in South Korea's domestic market have been done at premiums of $5/t to fob South Korea prices. South Korea's exports to China were settled at premiums of $9-11/t to fob South Korea prices while Taiwan's imports were concluded at premiums of $7-8/t to fob South Korea prices.
Discussions for term supplies within southeast Asia may be nearing conclusions, with one consumer considering buying at premiums of about $2/t to fob South Korea prices.
By Kate Lee
