07 April 2010 09:03 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korea’s Yeochun Naphtha Cracking Centre (YNCC) is seeking 25,000 tonnes of open-spec naphtha for delivery in the second half of May, after having bought four 25,000-tonne cargoes of the petrochemical feedstock for arrival in the first half of May, traders said on Wednesday.
Due to an upcoming scheduled turnaround at its 415,000 tonne/year cracker, YNCC’s import appetite for the latter part of May was subdued, they said.
The company would shut the naphtha cracker at Yeocheon in South Korea from 17 May to 20 June.As for YNCC’s first-half May purchases, the cargoes totalling 100,000 tonnes fetched a premium of $5.50/tonne (€4.13/tonne) to Japan CFR (cost and freight) quotes, traders said.
Asia’s benchmark naphtha crack spread versus Brent crude weakened to $108.55/tonne on Tuesday’s close, the lowest since 9 November 2009 when the crack spread was valued at $101.70/tonne, according to global chemical market intelligence service, ICIS pricing.
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