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.
($1 = €0.75)
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