South Korea’s LG Chem buys 75,000 tonnes naphtha for H1 March

25 January 2011 07:34  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem has bought 75,000 tonnes of spot naphtha for delivery in the first half of March because its crackers are operating at full rates, traders said on Tuesday.

The cargoes fetched a premium of $6/tonne (€4/tonne) to Japan quotes CFR (cost & freight), they added.

Meanwhile, LG Chem plans to shut its 760,000 tonne/year naphtha cracker in Daesan for turnaround and expansion works in the middle of March.

The cracker is expected to be taken off line for a month and the ethylene capacity will be increased to around 900,000 tonnes/year after the debottlenecking work.

LG Chem also runs a 1m tonne/year naphtha cracker in Yeosu.

($1 = €0.73)

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By: Felicia Loo

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