15 January 2013 09:45 [Source: ICIS news]
(adds the price of the premium)
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has bought by tender 100,000 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 a premium of $9.50/tonne (€7.13/tonne) to 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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