Honam Said to Buy Naphtha for Delivery in Second Half of April

Honam Petrochemical Corp. (011170) bought two cargoes of naphtha for delivery to South Korea in the second half of April, according to three traders who participate in the market.

The company bought the cargoes earlier this week at a premium of $17 to $18 a ton to Japan benchmark prices, the traders said, declining to be named because the information is confidential.

Details of the purchase are as follows:

Product:  Open-specification naphtha
Quantity: Two cargoes or about 50,000 metric tons
Delivery: Second half of April
Port:     One cargo to Yeosu, one cargo to Daesan
Price:    Premium of about $17 to $18 a ton to Japan benchmark
          prices for the first half of March
Seller:   Unidentified

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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