13 July 2010 08:16 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s Formosa Petrochemical Corp (FPC) has wrapped up its term naphtha tender, buying in a total of 1.0-1.5 million tonnes for October 2010 to September 2011 supply at very steep discounts, traders said on Tuesday.
The spread between second half August and September contracts plunged to -$7/tonne from -$2/tonne early last week in the wake of Formosa’s 700,000 tonne/year cracker blast, ICIS data showed.
In the aftermath of the explosion which occurred on 7 July,
($1 = €0.79)
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