16 January 2014 08:34 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has bought 100,000-150,000 tonnes of spot naphtha supplies for delivery to Mailiao in the second half of February, traders said on Thursday.
The deal for the cargoes was done at a premium of $10-11/tonne to CFR (cost & freight) Japan quotes, they added.
Previously, FPCC purchased 150,000 tonnes of naphtha for delivery to Mailiao in the first half of February, at a premium of $11-13/tonne to CFR Japan quotes.
The premiums softened in the latest purchase owing to weakening liquefied petroleum gas prices, which might prompt end-users to switch partially to the product instead, traders said.
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