November 9, 2017 / 9:47 AM / 2 months ago

BUZZ-Taiwan's Formosa buys H2 Dec; premiums over $9/T

** Taiwan’s Formosa Petrochemical Corp bought up to 150,000 tonnes of open-specification naphtha, bringing its total Dec spot shipment to over 300,000 tonnes, traders say

** The Dec volumes were higher than its monthly average for Jan-Nov at about 220,000 tonnes

** The spot premium of about $9.50 a tonne to its own price formula on a cost-and-freight (C&F) basis was also the highest it has paid since March 2015

** Malaysia-based Titan had also paid similar premiums but to Japan quotes on a C&F basis for a naphtha cargo scheduled for second-half Dec arrival at Pasir Gudang

Reporting by Seng Li Peng

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