S Korea’s LG Chem buys H1 August naphtha at higher premium

03 July 2012 10:38  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem has bought through tender a parcel of open-spec naphtha for arrival at Yeosu in the first half of August at a premium higher than its previous purchase, traders said on Tuesday.

The cargo, which was sought by tender on the morning of 3 July, fetched a premium of $3.00/tonne (€2.37/tonne), triple from its previous purchase, they said.

“This premium is not bad, but we are unsure whether the strengthening in the premium will hold,” a Singapore-based trader said.

($1 = €0.79)

By: Ong Sheau Ling
+65 6780 4359

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