Taiwan’s FPCC buys 150,000 tonnes naphtha for H1 March

29 January 2013 09:17  [Source: ICIS news]

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

The deals for the cargoes were done at a premium of $15.00-16.00/tonne (€11.10-11.84/tonne) to Japan quotes CFR (cost & freight), they said.

FPCC previously bought by tender 100,000 tonnes of spot naphtha for delivery to Mailiao in the second half of February, at a premium of $9.50/tonne to Japan quotes CFR.

The premiums increased because of tightening supply from India, a major exporter of naphtha to Asian buyers, traders said.

($1 = 0.74)


By: Felicia Loo



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