S Korea’s LG Chem buys 100,000t naphtha at $4–5/tonne discount

15 September 2010 09:17  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem has bought a total of 100,000 tonnes of spot naphtha for delivery in the second half of October, traders said on Wednesday.

The grades were either open-spec or full-range, they added.

The cargoes were bought at a deep discount of $4–5/tonne (€3.10–3.90/tonne) to Japan quotes CFR (cost & freight), said traders.

LG Chem last bought a similar volume for delivery in the second half of September, with two Daesan-bound cargoes at a discount of $3.25/tonne to Japan quotes CFR, and two other Yeosu-bound cargoes at a discount of $3.75/tonne to Japan quotes CFR.

The company runs two crackers in Daesan and Yeosu in South Korea, with nameplate capacities of 760,000 tonnes/year and 1m tonnes/year, respectively.

($1 = €0.78)

For more on LG Chem, visit ICIS company intelligence
Please visit the complete ICIS plants and projects database
To discuss issues facing the chemical industry, go to ICIS connect

By: Felicia Loo

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly