Markets

Asia Naphtha-Asia's top buyer Formosa seeks H2 Feb vols

Published January 11, 2013 Updated January 11, 2013 01:08pm

 

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.

 

Copyright Reuters, 2010