01 August 2013 07:46 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has bought by tender 50,000 tonnes of naphtha for delivery to Mailiao in the first half of September, traders said on Thursday.
The deal for the cargo was done at a slight discount to Japan quotes CFR (cost & freight) pricing, down from its previous tender purchase, on the back of rising regional supply, they added.
In its previous tender, FPCC bought 50,000-100,000 tonnes of open-spec naphtha for delivery to Mailiao in the second half of August to early September.
The deal for the cargoes fetched a premium of $1.00-2.00/tonne (€0.75-1.50/tonne) to Japan quotes CFR.
($1 = €0.75)
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