S Korea’s Honam buys 75,000 tonnes naphtha at $15/tonne premium

12 October 2012 06:20  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical has bought three open-spec naphtha cargoes totalling 75,000 tonnes in the spot market for delivery to Daesan in the second half of November, traders said on Friday.

The deal for the cargoes was done at a premium of $15.00/tonne (€11.55/tonne) to Japan quotes CFR (cost and freight), they said.

The premium increased from its previous spot purchase because regional naphtha supply was tight, traders said.

Honam previously bought 50,000 tonnes of spot naphtha supply for first-half November delivery to Daesan at a premium of $10.50/tonne to Japan quotes CFR.

($1 = €0.77)

By: Felicia Loo

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