South Korea’s YNCC buys 75,000 tonnes naphtha for H1 April

25 February 2011 03:25  [Source: ICIS news]

SINGAPORE (ICIS)--South Korean producer YNCC has bought 75,000 tonnes of open-spec naphtha for delivery into Yeosu in the first half of April, traders said on Friday.

The cargoes were done at a premium of $2/tonne (€1/tonne) to Japan quotes CFR (cost & freight), down from its previous purchase of 125,000 tonnes of spot naphtha for delivery in the second half of March, they added.

Those cargoes had been sealed at a premium of $3-5/tonne to Japan quotes CFR, traders said.

Prices weakened because of ample supplies and weak demand in Asia, they added.

($1 = €0.72)

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By: Felicia Loo

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