Amid strong demand and thin supply, naphtha crack in Asia was mostly flat at US$149.7/ton on Tuesday, but about 13% higher than a month ago as per Reuters.
Taiwan's Formosa Petrochemical Corp is seeking H1-June naphtha in a tender closing on April 30, with offers to stay valid until May 2. Traders said Formosa, having failed to secure liquefied petroleum gas (LPG) due to high prices, will rely mainly on naphtha as feedstock for its 2.93 mln tpa cracking complex in Mailiao. The tender came after South Korea's YNCC was seen paying a steep premium of US$19-19.50/ton to Japan quotes on cost-and-freight (C&F) basis for H1-June cargo.
02-May-14 
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