S.Korea LG Chem buys 30,000T naphtha for late Aug

SEOUL, July 13 (Reuters) - South Korea's LG Chem (051910.KS) bought 30,000 tonnes of naphtha for late August arrival at less than half the premium paid in end-June as supply of the feedstock eased on arbitrage, a trading source said on Monday.

The country's largest chemical producer bought the parcel at around a $3 a tonne premium to Japan spot quotes on a cost-and-freight (C&F) basis, compared with the $7 a tonne premium that LG Chem paid last month for volumes scheduled for the same arrival period.

Details of the seller of were not immediately available.

"The tight supply seems to be easing, and some other Northeast Asian buyers are expected to seek their late August cargoes later this week," the source added.

At least 500,000 tonnes of Western naphtha have been provisionally booked to arrive in Asia next month.

(Reporting by Cho Meeyoung; Editing by Jonathan Hopfner)