Taiwan’s Formosa Petrochemical still shuns spot naphtha supply

18 September 2012 04:10  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) is not keen to buy any spot naphtha supply for the second half of October even after restarting its 1.03m tonne/year No 2 cracker in Mailiao following a routine maintenance, traders said on Tuesday.

A possible reduction in cracker run rates prompted FPCC not to seek spot naphtha supply at this juncture, traders said.

“It all depends on the run rates,” said one trader, when asked whether FPCC would also seek spot naphtha for delivery in the first half of November.

The No 2 cracker was restarted on 14 September as scheduled. FPCC is not expected to ramp up production at the cracker to full capacity for the remainder of September as there are downstream units at the Mailiao complex that are still shut, a company spokesman had said.

FPCC also runs a 700,000 tonne/year No 1 cracker and a 1.2m tonne/year No 3 cracker in Mailiao. These two crackers were running at full capacity late last week.

($1 = €0.76)

By: Felicia Loo

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