Honam Petrochemical bought 50,000 tons naphtha premium lower than previous purchase

10-Feb-11

South Korea’s Honam Petrochemical has purchased 50,000 tons naphtha at US$8-8.50/ton above Japan spot quotes on a cost-and-freight (C&F) basis, about a dollar lower than a previous purchase, as per Reuters. Two parcels of full-range naphtha for H2-March arrival was purchased at Daesan from undisclosed sellers. Honam is likely skip spot naphtha purchase for H2-March arrival at Yeosu as it will shut a 750,000 tpa cracker for 10-day maintenance staring April 1.