13 July 2012 03:57 [Source: ICIS news]
The first cargo for second-half August delivery was bought at a premium of $8.00/tonne (€6.60/tonne) to CFR (cost & freight)
The other two cargoes for first-half September delivery to Yeosu and Daesan were at a $5.00/tonne premium and $5.50/tonne premium, respectively, based on a 45-day pricing formula, the source added.
Naphtha prices appear to be on an uptrend, supported by strong buying interest, but it really depends on the global economy if prices were to be sustained in the long term, a Singapore-based trader said.
($1 = €0.82)
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