S.Korea KPIC targets $3/T discount on 2009-10 term naphtha

SEOUL, July 31 (Reuters) - Korea Petrochemical Ind Co Ltd (KPIC) (006650.KS) is targetting a discount of $3 per tonne to Japan spot quotes in its term naphtha tender to buy 300,000 tonnes for delivery between October 2009 and September 2010, traders said on Friday.

KPIC had shortlisted offers into four to five suppliers who had made offers at premiums below $2 per tonne to Japan spot quotes on a cost-and-freight (c&f) basis, traders said.

The tender closed on Wednesday, and the final results are expected early next week. KPIC imports 1.4 million tonnes of naphtha annually. (Reporting by Cho Meeyoung; Editing by Chris Lewis)