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)
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