SINGAPORE: Taiwan's Formosa Petrochemical is seeking naphtha for second-half February arrival at Mailiao after it had bought about 100,000-150,000 tonnes for first-half February less than 10 days ago, traders said on Friday.
Asia's top naphtha buyer is seeking the cargoes through a tender which is due to be awarded next Tuesday.
This comes at a time of strong demand as some petrochemical makers have raised their naphtha cracker operations in view of improved plastics demand.
The tender also comes right after Japan's Mitsui Chemicals bought a naphtha cargo on Friday for second-half February delivery at premiums below $20 a tonne to Japan quotes on a cost-and-freight (C&F) basis.
Mitsui Chemicals had bought similar volumes two days ago for the same arrival period at premiums around $21-$22 a tonne.
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