April 13, 2017 / 3:32 AM / 3 months ago

BUZZ-Taiwan's Formosa buys naphtha and more LPG for May

1 Min Read

** Taiwan's Formosa buys up to 120,000 tonnes of open-specification naphtha, bringing its total purchases for May to around 300,000 tonnes, traders familiar with the matter say

** Formosa pays flat to premiums of about $2 a tonne to Japan quotes on a cost-and-freight (C&F) basis for the cargoes arriving in Mailiao in second-half May

** The levels are higher versus discounts of $1 to $2.75 Formosa had paid on March 30

** Asia's top naphtha importer also buys alternative liquefied petroleum gas (LPG) for second-half May delivery at a discount of $60 a tonne to Japan naphtha quotes (Reporting by Seng Li Peng; Reuters Messaging: lipeng.seng.thomsonreuters.com@reuters.net)

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