04 August 2008 18:30 [Source: ICIS news]
SINGAPORE (ICIS news)--Asian naphtha discounts continue to deepen as demand from northeast end-users remains weak amid a spate of turnarounds from July to September, industry sources said on Monday.
Late last week, Samsung Total reportedly purchased a 25,000 tonne cargo of open spec naphtha at a discount of $5/tonne to ?xml:namespace>
“Considering the current weak market situation, they might have bought the cargo at a deeper discount,” a NE Asian trader said.
Two weeks back, LG Chemical was said to have purchased 25,000 tonnes of open spec naphtha at a discount of $2-2.50/tonne to Japan quotes CFR (cost and freight) Korea and another 25,000 tonnes of full-range material at a discount of $1.50/tonne to Japan quotes CFR (cost and freight) Korea for September deliveries.
“We might be seeing even lower discounts on more supplies from
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