S Korea’s YNCC buys 50,000 tonnes naphtha for Jan ‘14 delivery

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)

By: Felicia Loo

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