Formosa Said to Buy July Naphtha at Discount to Japan Prices

Formosa Petrochemical Corp. (6505) bought 80,000 to 90,000 metric tons of naphtha for July delivery to Mailiao, according to two traders who participate in the market.

Taiwan’s only publicly traded oil refiner purchased at a discount of $1 to $3 a metric ton to Japan prices, the traders said, asking not to be named because the information is confidential.

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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