May 25, 2017 / 7:15 AM / 6 months ago

BUZZ-Taiwan Formosa buys naphtha at discount for first time since March

** Taiwan’s Formosa Petrochemical Corp bought naphtha at parity to discount of $1 a tonne to Japan quotes on a cost-and-freight (C&F) basis, first discount it paid since March, traders familiar with the matter say

** Formosa bought around 60,000 tonnes of open-specification naphtha for first-half July arrival at Mailiao, lowest volume it had bought since Jan. 19

** Asia’s top naphtha buyer also bought 23,000 tonnes of liquefied petroleum gas (LPG) this week to replace naphtha at a discount of about $48 a tonne to Japan’s naphtha price quotes (Reuters Messaging: lipeng.seng.thomsonreuters.com@reuters.net)

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