S Korea’s Lotte buys 25,000 tonnes naphtha for first-half June

02 May 2013 08:15  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Lotte Chemical Corp has bought 25,000 tonnes of spot naphtha supply for delivery to Yeosu in the first half of June, traders said on Thursday.

The deal for the cargo fetched a premium of $7.50/tonne (€5.70/tonne) to Japan quotes CFR (cost & freight), they added.

The premium fell sharply because of weakening demand for plastics and a lack of strong demand for naphtha in the gasoline blending pool, traders said.

In its previous spot purchase, Lotte acquired 50,000 tonnes of naphtha for delivery to Daesan in the second half of May, at a premium of around $17.50/tonne to Japan quotes CFR.

($1 = €0.76)

By: Felicia Loo

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