S Korea’s LG Chem buys 25,000 tonnes naphtha for H1 December

24 October 2012 04:40  [Source: ICIS news]

SINGAPORE (ICIS)--South Korean chemical company LG Chem has bought 25,000 tonnes of spot naphtha for delivery to Daesan in the first half of December, traders said on Wednesday.

The deal for the cargo was done at a premium of $17.50/tonne (€13.50/tonne) to Japan quotes CFR (cost & freight), they added.

In its previous spot purchase, LG bought 50,000 tonnes of naphtha at a premium of $14.50/tonne to Japan quotes CFR for delivery in the second half of November.

Meanwhile, LG Chem is operating its two crackers at 100% capacity, a company source said.

LG Chem operates a 940,000 tonne/year cracker in Daesan and a 1m tonne/year cracker in Yeosu.

($1 = €0.77)

By: Felicia Loo

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