15 January 2013 01:35 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has bought by tender 100,000-150,000 tonnes of spot naphtha for delivery to Mailiao in the second half of February, traders said on Tuesday.
The deals for the cargoes were done at high single-digit premiums against Japan quotes CFR (cost & freight), they added.
FPCC previously bought 100,000-150,000 tonnes of spot naphtha at a premium of $12.00-13.00/tonne (€9.00-9.75/tonne) to Japan quotes CFR for delivery to Mailiao in the first half of February.
The premiums have weakened because of rising supply from the West.
($1 = €0.75)
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