Formosa Petrochemical Said to Buy Naphtha for March Delivery

Formosa Petrochemical Corp. bought about 150,000 metric tons of naphtha for delivery to Mailiao, Taiwan, in the first half of March, according to two traders with knowledge of the purchase.

The company paid a premium of about $14.50 to $17 a ton over benchmark Japan prices, the traders said, asking not to be identified because the information is confidential.