S Korea’s Honam buys 50,000 tonnes naphtha for H1 December

24 October 2012 04:48  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical has bought 50,000 tonnes of spot naphtha for delivery to Daesan in the first half of December, traders said on Wednesday.

The cargoes were sold at a premium of $18.50/tonne (€14.25/tonne) to Japan quotes CFR (cost & freight), they added.

Tight prompt supply has led to a rise in premiums, traders said.

In its previous spot purchase, Honam bought three open-spec naphtha cargoes totalling 75,000 tonnes for delivery to Yeosu and Daesan in the second half of November, at a premium of around $16.00/tonne to Japan CFR quotes.

($1 = €0.77)

By: Felicia Loo

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