27 September 2012 03:39 [Source: ICIS news]
SINGAPORE (ICIS)--South Korean chemical company LG Chem has bought 50,000 tonnes of naphtha for delivery in the second half of November, traders said on Thursday.
The deal for the Yeosu-bound cargo was done at a premium of $10.50/tonne (€13.50/tonne) to ?xml:namespace>
The premiums were in tandem with the amount other South Korean operators paid for their spot naphtha purchases in the week, traders said.
While the premiums have softened in the wake of rising supply, prices have stabilised because of continuous buying activity from northeast Asian cracker operators, the traders added.
In early September, LG Chem purchased a similar volume of spot naphtha for delivery in the second half of October at premiums of $18.50/tonne and $19.25/tonne to
($1 = €0.78)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections