S Korea’s YNCC buys H2 November naphtha at $14/tonne premium

16 October 2012 04:06  [Source: ICIS news]

SINGAPORE (ICIS)--South Korean producer Yeochun NCC (YNCC) has bought 75,000 tonnes of spot naphtha for delivery to Yeosu in the second half of November, traders said on Tuesday.

The deal for the cargoes was done at a higher premium of $14.00/tonne (€10.78/tonne) to Japan quotes CFR (cost and freight), they said.

In its previous purchase, YNCC bought a similar volume of naphtha for delivery to Yeosu in the first half of November at a premium of $10.50/tonne to Japan quotes CFR.

The premiums were supported by tightening availability of cargoes in the region, traders said.

YNCC is currently operating its three Yeosu-based crackers at 100% capacity, and there are no plans to conduct cracker turnarounds next year, a company source said.

The company has three crackers with a combined ethylene capacity of 1.9m tonnes, according to ICIS data.

($1 = €0.77)

By: Felicia Loo

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