Honam buys 75,000 tons, S-Oil offers 33,000 tons of light naphtha for Feb lifting

12-Jan-12

S-Oil has offered 33,000 tons of light naphtha from Onsan for Feb. 9-25 lifting in a tender which closes Wednesday as per Reuters. The offer coincides with strengthening demand due to increased buying interest from Taiwan's CPC and Formosa amid healthy demand from South Korea due to high cracker run rates. Honam Petrochemical Corp has bought three cargoes totaling 75,000 tons at steady premiums amid a firm market for H2 February arrival at Daesan at premiums of US$8/ton to Japan quotes on a cost-and-freight (C&F) basis.