South Korea’s Lotte buys spot naphtha supplies at firmer premiums

12 July 2013 05:46  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Lotte Chemical has bought some spot naphtha supplies for delivery in the second half of August, traders said on Friday.

The deal for the Yeosu-bound supplies was done at Japan quotes CFR (cost & freight) pricing plus $5.50-6.00/tonne (€4.18-4.56/tonne), while the deal for the Daesan-bound supplies was done at a premium of $8.00-8.50/tonne over Japan quotes CFR pricing, they added.

The premiums have generally improved on the back of healthy gasoline blending demand and firm petrochemical buying needs for the feedstock, traders said.

The spot volumes were not immediately known.

In the week ended 5 July, Lotte bought a 25,000 tonne naphtha cargo for delivery to Yeosu in the second half of August, at a premium of $4.00-5.00/tonne to Japan quotes CFR.

($1 = €0.76)

By: Felicia Loo

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