South Korea's LG Chem has bought 50,000 tons of naphtha for H1-September arrival at Yeosu port at around US$7/ton above Japan quotes on a cost-and-freight (C&F) basis, tagged to a 45-day price formula, as per Reuters. This is equivalent to nearly US$10/tpn premium if measured on a more commonly used 30-day price formula. This would make the premium the highest in about 10 weeks, reflecting strong demand.
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