Honam Petrochemical Corp. (011170) bought at least two cargoes of naphtha for delivery to South Korea in the first half of February, according to three traders who participate in the market.
The company paid a premium of about $15 to $17 a metric ton to Japan benchmark prices, the traders said, asking not to be identified because they aren’t authorized to speak to the media. Honam may have purchased as many as eight cargoes, according to two of the traders.
A cargo typically contains about 25,000 to 30,000 tons of naphtha.
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