Honam Petrochemical has purchased at least 25,000 tons of naphtha for H1-February arrival at a premium of US$12/ton to Japan spot quotes on a cost-and-freight (C&F) basis. Persistently tight supplies caused by delays in shipments from the Gulf have pushed premiums higher at the end of 2010. As per Reuters, this premium is similar to what it had paid on Dec. 22 for 100,000 tons of naphtha for the same arrival period, and double of the US6-7/ton it paid on Nov. 23 for cargoes arriving in H1-January. Naphtha cracks eased to US$179.43/ton at the end of 2010.
04-Jan-11 
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