July 13, 2017 / 9:08 AM / 2 months ago

BUZZ-S.Korea's YNCC pays deeper discounts for spot naphtha

** South Korea’s YNCC buys 75,000 tonnes of naphtha for second-half August delivery to Yeosu at discounts of $3.50 to $4.00 a tonne to Japan quotes on a cost-and-freight (C&F) basis

** This is a steeper compared with $3 a tonne discount it paid a week earlier as market is saddled with supplies

** The weak market has also drawn YNCC to buy cargoes under term contract

** It sealed a deal last week with over three sellers for a total of about 400,000 tonnes of naphtha for August 2017 to July 2018 delivery at discounts of about $2 a tonne (Reuters Messaging: lipeng.seng.thomsonreuters.com@reuters.net)

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