Taiwan's Formosa Petrochemical Corp is in discussions with potential buyers to sell term MTBE for the January-December 2013 period, a source close to the company said Tuesday.
It hopes to conclude negotiations by the end of the week, the source added.
There will be one 5,000 mt cargo of MTBE sold every quarter, loading from Mailiao port, the source said. The loading dates are to be nominated by the buyer.
The term contract will be based on a differential to Mean of Platts Singapore MTBE assessments, but the source declined to comment on exact price details.
