Taiwan’s CPC buys March heavy naphtha cargo at $18-22/t premium
22 January 2010 09:24 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s Chinese Petroleum Corp has bought by tender 60,000 tonnes of heavy naphtha for March delivery amid high operating rates at its crackers, a trader said on Friday.
The two cargoes were awarded at a premium of $18-22/tonne (€13-16/tonne) to Japan spot quotes for March delivery, up from a premium of $20-$25/tonne fetched in a previous tender. CPC bought 30,000 tonnes of heavy naphtha then, he added.
“Prices are still high even though there will be many regular cracker maintenance next month,” said the trader.
($1 = €0.71)
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By: Felicia Loo
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