S Korea's Honam Petrochemical buys 50,000 tonnes August naphtha

05 July 2012 10:20  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical bought via a tender on Thursday afternoon 50,000 tonnes of open-spec naphtha for August delivery, industry players said.

The buyer booked a 25,000-tonne cargo for first-half August arrival at a premium of around $4/tonne (€2.4/tonne) to Japan quotes CFR (cost and freight), and another similar-sized parcel for second-half August delivery at a premium of about $2/tonne to the same quotes.

The two cargoes will head to Yeosu.

The South Korean company last purchased 100,000 tonnes of first-half August-arrival naphtha on 2 July at premiums of $2.00-3.00/tonne.

($1 = €0.80)

By: Yeow Pei Lin

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