Taiwan’s Formosa Petrochemical seeks naphtha for H2 April

07 March 2012 07:08  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) late on Tuesday issued a tender to purchase naphtha scheduled for delivery in the second half of April, several traders said on Wednesday.

The tender, which closes on Wednesday, did not specify the volume required, the traders added.

However, the tender said FPCC will consider a minimum volume of 25,000 tonnes, the traders said.

The seller that is successful in the tender will have to deliver the cargoes to Mailiao, the traders said, adding that the pricing formula for the tender was undisclosed.

FPCC last purchased 100,000 tonnes of open-spec naphtha for delivery in the first half of April to Mailiao in the fourth week of February, according to the traders.

The cargoes were bought at premiums of $14.00-20.00/tonne (€10.64-15.20/tonne) to CFR (cost & freight) Japan quotes on a 30-day price formula for open-spec material, the traders said.


By: Quintella Koh
+65 6780 4372



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