Formosa Petrochemical Said to Buy Naphtha at $11 to $12 Premium

Formosa Petrochemical Corp. (6505) bought about 100,000 metric tons of naphtha for delivery to Mailiao, Taiwan, according to two traders who participate in the market.

The cargo was purchased at a premium of $11 to $12 a ton above Japan benchmark prices, the traders said.

Details of the purchase follow below:

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Product:   Naphtha
Quantity:  About 100,000 tons
Delivery:  End of March to early April
Port:      Mailiao
Price:     Premium of $11 to $12 a ton above Japan prices
Sellers:   Undisclosed
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To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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