S Korea’s LG Chem buys 75,000 tonnes naphtha for H2 January

03 December 2010 03:20  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem has bought 75,000 tonnes of spot naphtha for delivery in second half of January, amid full production at its crackers, traders said on Friday.

The cargoes, which would be shipped to Yeosu, fetched a strong premium of $10.50/tonne (€7.98/tonne) to Japan quotes CFR (cost and freight), they said.

“Petrochemical demand is good,” said a trader.

LG Chem runs a 760,000 tonne/year cracker in Daesan and a 1m tonne/year cracker in Yeosu.

The crackers are currently operating at full tilt, traders added.

($1 = €0.76)

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By: Felicia Loo

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