S Korea’s Lotte buys 25,000 tonne naphtha for second-half March

07 February 2014 05:01 Source:ICIS News

SINGAPORE (ICIS)--South Korea’s Lotte Chemical has bought a spot 25,000 tonne naphtha cargo for delivery to Daesan in the second half of March, traders said on Friday.

The deal for the cargo was done at a premium of $10/tonne to CFR (cost & freight) Japan quotes, they added.

Lotte previously bought two spot naphtha cargoes totalling 50,000 tonnes for delivery in the first half of March, at a premium of around $11/tonne to CFR Japan quotes.

In an earlier spot purchase, Lotte bought a 25,000-tonne naphtha cargo for delivery to Daesan in the first half of March, at a premium of $12/tonne to CFR Japan quotes.

The premiums have been sliding owing to softer demand amidst heavy cracker maintenance from March onwards.

By Felicia Loo