11 August 2010 11:19 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp has tendered to buy 25,000-70,000 tonnes of naphtha for delivery in the second half of September, a trader familiar with the matter said on Wednesday.
The tender would close on Thursday, the trader added.
Formosa last bought by tender 30,000-50,000 tonnes of naphtha for delivery in the first half of September, at a discount of $5-7/tonne (€4-5/tonne) to Japan quotes CFR (cost & freight).
Formosa had earlier said that the maintenance shutdown at the No 2 cracker, which was scheduled to start late August, would likely be pushed back after a blast in early July shut down its 700,000 tonne/year No 1 naphtha cracker at the same site.
The No 1 cracker would likely be restarted in late September or early October, according to a company spokesperson.
The company also operates a 1.2m tonne/year No 3 naphtha cracker in Mailiao, Taiwan.
($1 = €0.76)
Please visit the complete ICIS plants and projects database
To discuss issues facing the chemical industry, go to ICIS connect
Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections