21 March 2013 09:30 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Lotte Chemical Corp has bought 100,000 tonnes of naphtha for delivery in the first half of May at lower premiums in response to the weakening downstream petrochemical demand, traders said on Thursday.
The deal for the Yeosu-bound cargoes was done at a premium of $22/tonne (€17/tonne) to Japan CFR (cost & freight) quotes, while the deal for the Daesan-bound cargoes was done at around a premium of $23/tonne to Japan CFR quotes, they added.
The company bought an equal volume for delivery to Yeosu and Daesan, they said.
Lotte last bought 100,000 tonnes of spot naphtha supply for delivery to Yeosu in the second half of April at a premium of $25-26/tonne to Japan quotes CFR.
($1 = €0.77)
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