Asia Naphtha-Formosa seeks 2H April, 1H May cargoes

SEOUL, March 10 (Reuters) - Taiwan's Formosa Petrochemical (6505.TW: Quote, Profile, Research, Stock Buzz) has issued a tender to buy 30,000 to 75,000 tonnes of open-spec naphtha for second-half of April to first-half of May delivery, trading sources said on Monday.

Bids are to be submitted by the end of Monday, and are valid until the following day.

Formosa Petrochemical was initially planning to skip additional naphtha imports for April, but the plan was altered after it decided to shut down its 900,000 tonne No.2 naphtha cracker for a week in mid-March instead of April due to currently pressured ethylene margins. (Reporting by Angela Moon; Editing by Keiron Henderson)