04 January 2013 04:18 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has bought 100,000-150,000 tonnes of spot naphtha for delivery to Mailiao in the first half of February, traders said on Friday.
The deals for the cargoes were done at a premium of $12-13/tonne (€9-10/tonne) to Japan quotes CFR (cost & freight), they added.
FPCC previously bought 120,000-150,000 tonnes of spot naphtha for delivery between the second half of January and early February at a premium of $11-12/tonne to Japan quotes CFR.
FPCC raised the operating rate at all its three naphtha crackers in Mailiao to 95% capacity in January.
The company operates a 700,000 tonne/year No 1 cracker, a 1.03m tonne/year No 2 cracker and a 1.2m tonne/year No 3 cracker in Mailiao.
The run rates at all three plants stood at 85% of capacity in December.
($1 = €0.77)
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