South Korea’s LG Chem buys 360,000 tonnes term naphtha supply

26 June 2013 10:50  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem has bought by tender 360,000 tonnes of term naphtha supply for delivery from September 2013 to June 2014, traders said on Wednesday.

The deal for the term cargoes was done at a premium of $8.50/tonne (€6.46/tonne) to Japan quotes CFR (cost & freight), they said.

The premiums were somewhat similar to the premiums paid by South Korea’s Lotte Chemical’s recent term purchase.

Lotte bought by tender 400,000-500,000 tonnes of term naphtha supplies for delivery to Yeosu and Daesan from August 2013 to July 2014.

The deals for the cargoes were done at a premium of $8-9/tonne (€6-7/tonne) to Japan quotes CFR.

($1 = 0.76)

By: Felicia Loo

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