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Formosa Petrochemical bought 75,000 tonnes of naphtha for February to March arrival

January 20/2012

(Reuters) - Taiwan's Formosa Petrochemical has bought around 75,000 tonnes of naphtha for February to March arrival, bringing its total purchases since mid-December to over 350,000 tonnes, traders said on Thursday.

Formosa Petrochemical bought 75,000 tonnes of naphtha for February to March arrival


The volumes were bought at a price of flat to premiums of $1.00 a tonne to Japan quotes on a cost-and-freight (C&F) basis, lower than what it had recently paid at USD3.00 a tonne premium.


Formosa operates a 2.93 million tonnes per year (tpy) cracking complex which are currently running below full-tilt due to weak plastics demand from China.

mrcplast.com

Author:Marina Ivanova
Tags:Formosa.
Category:General News
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