Formosa buys 30,000 tons naphtha for June

Taiwan's Formosa has bought around 30,000 tons of naphtha which is rich in naphthalenes and aromatics (N+A) for H2-June arrival at Mailiao as per Reuters. However, the Taiwanese major has shunned open-spec naphtha purchases for next month. Formosa is believed to have paid per ton premiums in the US$20s to Japan quotes on a cost-and-freight (C&F) basis for the N+A grade. N+A naphtha is usually used for aromatics production while open-spec grade is for cracking into ethylene and propylene.
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