YNCC, Samsung Total buy open-spec naphtha for August

04-Jul-11
Yeochun NCC Co. has purchased 50,000 metric tons of naphtha for delivery in mid-August, while Samsung Total Petrochemicals bought H1-August open-spec naphtha through tender, a day after it bought similar volumes through private talks, as per Reuters. It is estimated that the South Korean major could buy another two parcels next week for the same arrival period. Currently, it has bought around 25,000 tons from an undisclosed seller at a discount of about US$3/ton to Japan spot quotes on a cost-and-freight (C&F) basis, while YNCC has purchased 50,000 tons at minus $3.50/ton.
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