25 February 2010 04:31 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s Chinese Petroleum Corp (CPC) will skip spot naphtha purchase for April, as it would cover its requirements via term supply instead, an industry source said on Thursday.
“They have CFR (cost and freight) term supply from April,” said a trader, referring to 75,000 tonnes of full-range term naphtha supply available for the month.
“The next requirement will be for May but it's too early to secure May cargoes,” he added.
Asia’s first-half April open-spec naphtha rose to $730.00-733.00/tonne (€540.20-542.42/tonne) CFR (cost and freight) Japan on Thursday, up $9.00-10.00/tonne CFR Japan on the previous trading day as crude held near $80/bbl, ICIS pricing data showed.
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