S Korea LG Chem buys naphtha; price near 4-1/2 mth high

SINGAPORE, Sept 5 Wed Sep 5, 2012 6:30am EDT

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SINGAPORE, Sept 5 (Reuters) - South Korea's LG Chem has bought 50,000 tonnes of naphtha at $18.50 to $19.00 a tonne above Japan spot quotes on a cost-and-freight (C&F) basis, highest premium it has paid in nearly 4-1/2 months on tight supplies, traders said on Wednesday.

It bought one 25,000-tonne cargo for second-half October delivery to Yeosu and one 25,000-tonne cargo for the same arrival period to Daesan.

The last time LG Chem had paid a steep premium for spot naphtha was in late April when it bought a first-half June cargo at $20 a tonne. (Reporting by Seng Li Peng; Editing by Himani Sarkar)

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