S Korea’s LG Chem buys H1 August open-spec naphtha

27 June 2012 11:52  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chemical has bought on Wednesday via tender two cargoes of open-spec naphtha for delivery in the first half of August, traders said.

The cargoes, which were of 22,500-30,000-tonne lot size with a minimum tonnage of 8,000 each, will be loaded between 1 to 15 August.

One parcel to be delivered to Daesan fetched a premium of $1.00/tonne to Japan quotes CFR (cost and freight), while the lot heading into Yeosu was bought at parity to Japan quotes CFR, they said.

“The premiums settled were good. This shows that market has improved since discounts are not fetched instead,” a Singapore-based trader said.

On 25 June, Honam Petrochemical bought spot cargoes at slight discounts to Japan CFR quotes.

($1 = €0.80)


By: Ong Sheau Ling
+65 6780 4359



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