Taiwan's CPC buys spot naphtha after three months

06-Aug-12

CPC has bought spot naphtha after an absence from the market of about three months, but at a premium that was below the market's expectations, as per Reuters. The Taiwanese refiner and petrochemical maker bought around 30,000 tons of full-range grade for Sept. 1-15 arrival at premiums of about US$1-3/on to Japan quotes on a cost-and-freight (C&F) basis. In early April, CPC had bought 55,000 tons of the same grade for H2-May arrival at premiums of US$9-13/ton.