Formosa Petrochemical Said to Buy Naphtha for Delivery in August

Formosa Petrochemical Corp. (6505) bought about 150,000 metric tons of naphtha for delivery to Mailiao, Taiwan, in the first half of August, according to three traders who participate in the market.

Taiwan’s only publicly traded oil refiner bought the cargoes earlier this week at parity to Japan benchmark prices, the traders said, asking not to be identified 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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