01 March 2010 08:35 [Source: ICIS news]
SINGAPORE (ICIS news)--China’s export-oriented refiner, Dalian West Pacific Petrochemical (WEPEC), is currently conducting term naphtha negotiations with end-users for quarterly April-to-June supply, traders said on Monday.
WEPEC offered full-range naphtha at double-digits, up from low single-digits locked in for January-to-March supply, they added.
The company exports around two term naphtha cargoes every month, and each cargo is 30,000 tonnes, traders said.
WEPEC last sold 30,000 tonnes of spot full-range naphtha for loading in April, at a premium of around $15.00/tonne (€10.95/tonne) to Japan spot quotes FOB (free on board), up from a premium of $12.00/tonne fetched in a previous spot trade, they said.
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