14 November 2013 07:27 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Yeochun NCC (YNCC) has bought 50,000 tonnes of open-spec naphtha for delivery to Yeosu in the first half of January, traders said on Thursday.
The deal for the cargoes was done at a premium of $17.00/tonne (€12.63/tonne) to CFR (cost & freight) Japan quotes, they added.
The premium has more than doubled from the South Korean company’s previous purchase owing to cuts in refinery operating rates in Asia, traders said.
Previously, YNCC bought 75,000 tonnes of naphtha for delivery to Yeosu in the second half of December this year at a premium of $7.50/tonne to Japan quotes CFR.
($1 = €0.74)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections