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

07 May 2013 10:24  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem has purchased a 25,000 tonne naphtha cargo for delivery to Daesan in the first half of June, traders said on Tuesday.

The deal for the spot cargo was done at a premium of $7.00/tonne (€5.35/tonne) to Japan quotes CFR (cost & freight), they added.

LG Chem previously bought a 25,000 tonne naphtha cargo for delivery to Daesan in May at a premium of $20.50/tonne to Japan quotes CFR.

The premium plummeted in the latest transaction, because of an increasingly bearish market awash in deep-sea inflows, traders said.

($1 = €0.76)


By: Felicia Loo



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