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(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.
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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.
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