Taiwan based firm CPC has decided to purchase of four cargoes or 12,000t each month from two trading firms at premiums of $6-9/t to fob South Korea prices. By comparison, the producer had fixed its term purchase for 2019 at a premium of $5/t to fob South Korea prices. The results of CPC's annual term import tender typically set the tone for negotiations in the CFR China and FOB Korea markets.Market participants expected the tender to be concluded at premiums above $10/t to fob South Korea prices as recent spot deals were done at premiums of $20/t for November delivery and $14-15/t for December delivery.
