S Korea’s Honam buys 50,000 tonnes naphtha at $22/tonne premium
31 October 2012 02:05 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>South Korea’s Honam Petrochemical has bought 50,000 tonnes of spot naphtha at strong premiums because of tighter availability of cargoes and strong Asian demand for the petrochemical feedstock, traders said on Wednesday.
Honam paid a strong premium of $22.00/tonne (€16.90/tonne) to Japan quotes CFR (cost & freight) for delivery to Yeosu and Daesan in the first half of December, they added.
Honam previously purchased 50,000 tonnes of spot naphtha at a premium of $18.50/tonne to Japan quotes CFR for delivery to Daesan in the first half of December.
($1 = €0.77)By: Felicia Loo
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