Taiwan’s Formosa Petrochemical Corp (FPCC) has purchased naphtha for second half of April delivery at a premium of $6/tonne (€4.74/tonne. FPCC bought 75,000 tonnes of spot naphtha from a Japanese trader to Japan quotes CFR (cost-and-freight) Taiwan. The premium is $3/tonne down from its previous purchase. FPCC last month snapped up a similar volume of open spec naphtha at a premium of over $9/tonne to Japan quotes CFR Taiwan for first half April delivery. Premiums for naphtha in Asia have been tapering off with the weakening of demand for downstream petrochemicals from Chinese buyers.