S.Korea’s Honam buys 50,000 tonnes naphtha for Feb-March

20 January 2012 03:11  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical has bought 50,000 tonnes of naphtha for delivery between the second half of February and early March, traders said on Friday.

The 25,000-tonne cargo was done at a premium of $8/tonne (€6/tonne) to Japan quotes CFR (cost and freight) for delivery in the second half of February, and the first-half March cargo fetched a premium of $4/tonne because of 45-day pricing, they added.

Spot demand was firm especially for second-half February cargoes, supporting the premium levels, traders said.

Prior to the latest purchase, Honam bought a total of 150,000 tonnes of naphtha for February through two separate purchases.

For more on naphtha, visit ICIS chemical intelligence

By: Felicia Loo

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