S Korea’s Honam buys 100,000 tonnes of spot naphtha for H1 October

23 August 2012 12:42  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical has bought four naphtha cargoes totalling 100,000 tonnes for delivery into Yeosu and Daesan in the first half of October at higher prices, on the back of rising spot demand, traders said on Thursday.

Honam paid a premium of around $2/tonne (€1.60/tonne) to Japan quotes CFR (cost and freight), they added.

The company previously bought a 25,000 tonne naphtha cargo for delivery into Yeosu in the second half of September at a discount of 50-75 cents/tonne to Japan quotes.

Honam is currently operating its two crackers at 100% of capacity. The company runs a 1m tonne/year cracker in Yeosu and another 1.07m tonne/year cracker in Daesan.

($1 = €0.80)

By: Felicia Loo

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