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BUZZ-Taiwan's Formosa to buy naphtha at sharply higher price
October 12, 2017 / 10:14 AM / 2 months ago

BUZZ-Taiwan's Formosa to buy naphtha at sharply higher price

** Taiwan’s Formosa Petrochemical Corp is expected to ink a naphtha spot deal at premiums of at least $2 a tonne to its price formula on a cost-and-freight (C&F) basis, traders say

** Not only is the fresh premium seen at least four times higher than its previous deal done on Sept 21 at flat to 50 cents a tonne premium, it would also be the highest premium Formosa would have paid since May 12

** Formosa, Asia’s top naphtha importer, is to buy naphtha for second-half November delivery through a tender which closes later in the day but offers will remain valid until Friday (Reporting by Seng Li Peng)

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