22 March 2013 02:39 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) plans to cut the run rates at its three naphtha crackers at Mailiao to around 90% of capacity in April because of poor margins, a company source said on Friday.
The three crackers – with a combined ethylene nameplate capacity of 2.93m tonnes/year – are running at 100% capacity this month, he said.
The company was initially in talks to sell a spot cargo of at least 5,000 tonnes for first-half April loading but discussions fell apart because of a price gap.
The highest bid from a trader was at around $1,260/tonne (€970/tonne) FOB (free on board) Taiwan while selling ideas were higher at $1,280-1,300/tonne FOB Taiwan, the source said.
($1 = €0.77)
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