GO
Loading...

Asia Naphtha-S Korea YNCC buys 75,000T for H2 Nov

SINGAPORE, Oct 12 (Reuters) - South Korea's YNCC has bought around 75,000 tonnes of open-spec naphtha for second-half November delivery at premiums of about $13.50-$14.00 a tonne to Japan quotes on a cost-and-freight (C&F) basis, traders said on Friday.

The purchase came a day after Honam had bought similar volumes for November delivery at $13.00-$14.00 a tonne, which were the highest premium seen in South Korea in about 3-1/2 weeks.

"The premiums reflect where the market is now," said a Singapore-based trader.

South Korea's demand has been healthy as crackers are mostly running at high rates.

At least two more South Korean buyers have not completed their November purchases, said a North Asian trader.

(Reporting by Seng Li Peng)

(lipeng.seng@thomsonreuters.com; +65 6870 3086; Reuters Messaging: lipeng.seng.reuters.com@reuters.net)

Keywords: NAPHTHA S KOREA/YNCC