25 June 2012 07:46 [Source: ICIS news]
Cargoes heading to Daesan were closed at a premium of $0.50/tonne (€0.40/tonne) to Japan CFR (cost and freight) quotes, while parcels heading to Yeosu were concluded at a discount of around $0.50/tonne to Japan CFR quotes.
“This settlement level was within some of our company’s expectations,” the source said.
The source added that the company is still defining the exact loaded volumes per month with its sellers.
After closing the tender, Honam remains as an active spot buyer in the market.
“As long as our cracker is still running at high rates, we have to buy spot even if we have term contracts,” he said.
($1 = €0.80)
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