China’s WEPEC sells 28,000-30,000 tonnes naphtha for end-May

26 April 2012 08:30  [Source: ICIS news]

SINGAPORE (ICIS)--China’s West Pacific Petrochemical Corp (WEPEC) has sold a 28,000-30,000-tonne naphtha cargo for loading from Dalian on 24-26 May, traders said on Thursday.

The cargo was sold at a premium of $32/tonne (€24/tonne) to CFR (cost and freight) Japan quotes, they said.

WEPEC does not usually sell naphtha cargoes, but the company decided to take advantage of high premiums spot sales are fetching this week, according to the traders.

“Naphtha premiums for spot cargoes are expected to remain high due to unexpected shutdowns that took place in India. This has affected the amount of spot full-range naphtha available,” said a trader.

($1 = €0.76)

By: Quintella Koh
+65 6780 4372

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