S Korea's Samsung Total buys 25,000 tonnes naphtha for H2 Mar

17 February 2011 08:52  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea's Samsung Total Petrochemicals has bought 25,000 tonnes of spot open-spec naphtha for delivery into Daesan in the second half of March, traders said on Thursday.

The cargo was traded at a premium of $4/tonne (€3/tonne) to Japan quotes CFR (cost & freight), they added.

Spot naphtha premiums for South Korea-bound imports had fallen because of a peak cracker turnaround season, traders said.

Premiums previously ranged from $8-9/tonne to Japan quotes CFR for similar spot purchases made by South Korean cracking operators, they added.

($1 = €0.74)

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By: Felicia Loo

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