S Korea’s Lotte buys 75,000 tonnes naphtha for second-half July

12 June 2013 05:22  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Lotte Chemical has bought 75,000 tonnes of full-range naphtha for delivery in the second half of July at softer premiums because of a weakening market that is saddled with ample cargo availabilities, traders said on Wednesday.

The deal for the Yeosu-bound cargo was done at a premium of $3.50/tonne (€2.63/tonne) to Japan quotes CFR (cost & freight), while the two other cargoes fetched a premium of $4.50/tonne to Japan quotes CFR for delivery to Daesan, they added.

Lotte previously bought 25,000 tonnes of spot naphtha supply for delivery to Yeosu in the first half of July, at a premium of $10.50/tonne to Japan quotes CFR.

The results of Lotte’s term naphtha purchase tender were not yet established.

Lotte Chemical closed the term tender on 10 June that sought naphtha supplies for delivery from August 2013 to July 2014.

($1 = €0.75)


By: Felicia Loo



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