Taiwan’s FPCC buys 150,000 tonnes naphtha at $15-16/tonne premium

31 October 2012 02:32  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has bought by tender 150,000 tonnes of spot naphtha for delivery to Mailiao in the first half of December, traders said on Wednesday.

The deals for the cargoes were done at premiums of $15.00-16.00/tonne (€11.55-12.32/tonne) to Japan quotes CFR (cost & freight), they added.

FPCC bought the cargoes from four to five sellers, traders said.

Meanwhile, FPCC is set to raise its Mailiao crackers' operating rates to 90% from 1 November, up by 10 percentage points from October rates.

FPCC previously bought at least 30,000 tonnes of spot naphtha  for delivery to Mailiao in the second half of November at a premium of below $10/tonne to Japan quotes CFR.

Tight regional supply and strong demand helped boost premiums in the spot transactions and tenders, traders said.

($1 = €0.77)

By: Felicia Loo

AddThis Social Bookmark Button

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.

Printer Friendly