South Korea's largest paraxylene (PX) producer SK Global Chemical (SKGC) has changed the pricing basis for its 2020 term contract to include Argus cfr Taiwan and China spot assessments.
The company has offered its term supplies for next year on a 50pc Argus, 50pc Icis basis. It previously priced most of its PX sales on a 100pc Platts basis.
Further details of the company's 2020 tender are unavailable.
SKGC operates three PX units in Ulsan and Incheon, South Korea, with a combined nameplate production capacity of 2.1mn t/yr. It also has a 50pc stake in the 1mn t/yr Ulsan Aromatics (UAC) complex in a joint venture with Japan's JXTG Nippon Oil & Energy.
