21 August 2012 08:13 [Source: ICIS news]
SINGAPORE (ICIS)--South Korean producer Yeochun NCC (YNCC) has cancelled a term tender to buy naphtha supplies for September 2012 to August 2013 delivery because of of high offers, traders said on Tuesday.
YNCC sought to buy the supplies at a premium of $1.50/tonne to ?xml:namespace>
YNCC has a one-year contract for 800,000 tonnes of naphtha supply for January-December 2012 delivery to Yeosu.
Its last term purchase of the open-spec material under the existing contract was at a discount of $0.50/tonne to Japan CFR quotes.
($1 = €0.81)
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