09 July 2010 08:00 [Source: ICIS news]
(adds current naphtha spread)
SINGAPORE (ICIS news)--Taiwan’s Formosa Petrochemical Corp (FPC) has awarded part of its term naphtha tender at a discount of $6/tonne (€4.7/tonne) to Japan quotes, traders said on Friday.
The price levels were in sync with current spot levels, undermined by a surplus of Middle East imports and reduced demand from
Reflecting a bearish market, the spread between second-half August and September contracts stretched to a contango of $4/tonne from $2/tonne early this week, in the wake of
($1 = €0.79)
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