Honam pays highest premium paid in South Korea in 3.5 months for 50,000 tons of naphtha

19-Aug-11
South Korea's Honam Petrochemical bought 50,000 tons of naphtha at around US$2/ton above Japan quotes on a cost-and-freight (C&F) basis, highest premium paid in the country in 3-1/2 months, as per Reuters. A day ago, YNCC has paid about a dollar/ton for open-grade naphtha for H2September arrival. This rise could be attributed to an expected fall in Indian exports in September to around 850,000 tons from 1 mln ton in August, along with low levels of domestic naphtha inventory in Japan.
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