South Korea’s LG Chem buys 25,000 tonnes naphtha for H2 March

17 February 2011 09:17  [Source: ICIS news]

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

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

Meanwhile, the company has plans to shut its 760,000 tonne/year naphtha cracker in Daesan for maintenance and expansion works on 15 March. 

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

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

($1 = €0.74)

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By: Felicia Loo

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