S Korea Samsung Total buys 25,000 tonnes naphtha for H2 October

17 September 2012 06:18  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea's Samsung Total has bought a 25,000-tonne cargo of open-spec naphtha for delivery into Daesan in the second half of October, traders said on Monday.

The cargo was done at a premium of $15/tonne (€11/tonne) to Japan quotes CFR (cost & freight), they added.

The premium was lower compared with recent spot trades because of rising concerns over the weak petrochemical demand, traders said.

For instance, South Korea’s LG Chem had purchased in early September 50,000 tonnes of spot naphtha for delivery in the second half of October at premiums of $18.50/tonne and $19.25/tonne to Japan quotes CFR.

($1 = 0.76)

By: Felicia Loo

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