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)

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By: Felicia Loo



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