S Korea’s Lotte buys 25,000 tonnes naphtha at lower premiums

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)


By: Felicia Loo



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