YNCC has bought a 25,000 ton naphtha cargo for H1-July at US$1.50-2/ton above Japan quotes on a cost-and-freight (C&F) basis, making this the lowest premium in South Korea in six months, as per Reuters. This deal follows Honam Petrochemicals’ purchase of 50,000 tons for the same arrival period at premiums of about US$3.50-4.50/ton.
Sluggish demand continue sto be shrouded by concerned that weak global economy could cause buying interest to stall.
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