Korea’s LG Chem buys H2 September naphtha at $6.50/tonne premium

07 August 2012 11:21  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem has bought three 25,000-tonne naphtha cargoes for second-half September delivery to Daesan, traders said on Tuesday.

The three parcels were sealed at a premium of $6.50/tonne (€5.27/tonne) to Japan CFR (cost and freight) quotes, they added.

The cargoes fetched the same premium as the recent purchases of another South Korean cracker operator, Honam Petrochemical.

“It seems that we can see premiums at such levels for the month of August,” a northeast Asia-based trader said.

LG Chem last bought two naphtha parcels for first-half September at a premium of $10.00/tonne to Japan CFR quotes on 18 July.

($1 = €0.81)


By: Samuel Wong



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