20 June 2013 02:41 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Lotte Chemical has bought a 25,000 tonne cargo of full-range naphtha for delivery to Daesan in the second half of July, traders said on Thursday.
The spot deal for the cargo was done at a premium of $3.00/tonne (€2.25/tonne) to Japan quotes CFR (cost & freight), they added.
In its previous spot purchase, Lotte acquired 75,000 tonnes of full-range naphtha for delivery to Yeosu and Daesan in the second half of July. The deal for the Yeosu-bound cargo was done at a premium of $3.50/tonne to Japan quotes CFR, while the two other cargoes fetched a premium of $4.50/tonne to Japan quotes CFR for delivery to Daesan.
Excess cargo availability has been dragging down the price differentials in recent transactions, traders said.
($1 = €0.75)
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