Honam Buys Naphtha Cargoes for Delivery to South Korea in April

Honam Petrochemical Corp. (011170) bought three cargoes containing a total of 75,000 metric tons of naphtha for delivery to South Korea in the first half of April, according to three traders who participate in the market.

The company paid premiums of $16 to $18 a ton above Japan benchmark prices published in the second half of February, the traders said, declining to be identified because the information is confidential.

Details of the purchase are as follows:

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Product:  Naphtha
Quantity: Three cargoes totaling 75,000 tons
Delivery: First half of April
Port:     Two cargoes to Yeosu, one cargo to Daesan
Price:    Premium of about $16 to $18 a ton to Japan benchmark
          prices for the second half of February
Seller:   Unidentified
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To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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