Formosa buys open spec naphtha and LPG for May

14-Apr-17

Taiwan's Formosa has bought up to 120,000 tons of open-specification naphtha, for flat to premiums of about US$2/ton to Japan quotes on a cost-and-freight (C&F) basis for the cargoes arriving in Mailiao in H2-May. This brings the Taiwanese majors' total purchases for May to around 300,000 tons, as per traders in Reuters. Price evels are higher versus discounts of US$1 to US$2.75 Formosa had paid on March 30.
Asia's top naphtha importer has also bought alternative liquefied petroleum gas (LPG) for H2-May delivery at a discount of US$60/ton to Japan naphtha quotes