Japan’s Mitsui Chemicals buys 25,000 tonnes naphtha for H2 May

17 April 2013 06:44  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Mitsui Chemicals has bought a 25,000-tonne naphtha cargo in the spot market for delivery to Chiba in the second half of May, traders said on Wednesday.

The deal for the cargo was done at a premium of $11.00/tonne (€8.36/tonne) to Japan quotes CFR (cost & freight), they said.

Open-spec first-half June contract rose by $6.50-7.00/tonne to $830.50-833.50/tonne CFR Japan in morning trading on Wednesday, as Brent crude futures rebounded to more than $100/bbl, ICIS data showed.

($1 = €0.76)

By: Felicia Loo

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