S Korea’s LG Chem buys H2 August naphtha at higher premium

11 July 2012 05:43  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem has bought at least 25,000 tonnes of open-spec naphtha for second-half August arrival at Yeosu, traders said on Wednesday.

The cargo fetched a premium of $7.50/tonne (€6.15/tonne) to Japan CFR quotes, more than double the premium fetched in its previous purchase, they said.

“The naphtha market seems to be improving on the back of better petrochemical margins,” a Singapore-based trader said.

Several traders said the prompt market remains bullish, but the market direction remains unclear.

($1 = €0.82)

By: Samuel Wong

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index