Taiwan’s Formosa buys 150,000 tonnes naphtha for H2 February

17 January 2011 04:05  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has bought 150,000 tonnes of spot naphtha for delivery into Mailiao in the second half of February, traders said on Monday.

Price details were not immediately available.

“Prices are definitely lower, given the flood of supply in the market,” a trader said.

FPCC last bought 75,000-100,000 tonnes of spot naphtha at market quotes plus $6/tonne (€4.5/tonne) CFR (cost and freight) Japan, for delivery in the first half of February, traders said.

($1 = €0.75)

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By: Felicia Loo

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