January 8, 2018 / 9:56 AM / a year ago

S Korea Hanwha Petchem buys naphtha; premium down

SINGAPORE, Jan 8 (Reuters) -

* South Korea’s Hanwha Total Petrochemical bought naphtha at about $10 a tonne above Japan quotes on a cost-and-freight (C&F) basis, the lowest premium it has paid in over two months due to high supplies, traders said

* Hanwha bought four cargoes, averaging a total of 100,000 tonnes, for February delivery to Daesan

* Although Hanwha routinely buys naphtha, the tender came at a time when it had failed to receive Iranian condensates after the tanker carrying the light oil collided with another vessel

* Hanwha uses condensates for a splitter, which can also use naphtha as an alternative (Reporting by Seng Li Peng)

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