S Korea’s Honam buys 100,000 tonnes naphtha for first-half Jan

30 November 2012 03:44  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical has bought 100,000 tonnes of spot naphtha supply for delivery to Yeosu and Daesan in the first half of January, traders said on Friday.

The deals for the cargoes were done at a premium of $9.50/tonne (€7.30/tonne) to Japan quotes CFR (cost & freight), they added.

The premiums had fallen sharply from Honam’s previous purchase because of rising supply and subdued regional demand, traders said.

In its previous purchase, Honam bought 50,000 tonnes of open-spec naphtha for delivery to Yeosu at a premium of around $16/tonne to Japan quotes CFR.

($1 = €0.77)

By: Felicia Loo

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