London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950

Our Clients

Order Informer

Home > News >

LG Chem bought second-half naphtha cargoes at a slight premium

October 20/2011

(Reuters) -- South Korea's LG Chem has bought second-half naphtha cargoes at a slight premium, reflecting a weaker market as stubborn sluggish demand for petrochemicals hits sentiment, traders said on Wednesday.

LG Chem, which traders said suffered a minor outage at its naphtha cracker in Daesan, bought a medium-range cargo each for second-half arrival at Yeosu and Daesan at premiums close to parity to Japan spot quotes on a cost-and-freight (C&F) basis.

The marginal premium levels were lower than what Samsung Total, YNCC and Honam paid between Oct. 13 and Oct. 17 at premiums of $1.25-$3.00 a tonne.

Traders said the 900,000-tonnes-per-year Daesan cracker encountered a compressor problem on Wednesday, forcing it to shut for two days. But LG Chem's spokesman said the cracker was operating normally after a two-hour repair to change a valve.

Tags:LG Chem.
Category:General News
| More

Leave a comment

MRC help


 All News   News subscribe