The volumes placed on provisional booking for August arrival in Asia were mostly in place at about 1.3 million tonnes but traders have time to fine-tune September bookings. South Korea's YNCC paid a discount of about $2.50 a tonne to Japan quotes on a cost-and-freight (C&F) basis for three cargoes with a combined average of 75,000 tonnes for first-half September arrival at Yeosu. Although the discount was narrower than the $3.50 to $4 YNCC had paid on July 13 for cargoes delivering in second-half August to Yeosu, spot prices have remained at a discount to Japan quotes since June 28. BPCL has an outstanding tender to sell a total of 88,000 tonnes of naphtha for first-half August loading from Kochi and Mumbai.
The volumes placed on provisional booking for August arrival in Asia were mostly in place at about 1.3 million tonnes but traders have time to fine-tune September bookings. South Korea's YNCC paid a discount of about $2.50 a tonne to Japan quotes on a cost-and-freight (C&F) basis for three cargoes with a combined average of 75,000 tonnes for first-half September arrival at Yeosu. Although the discount was narrower than the $3.50 to $4 YNCC had paid on July 13 for cargoes delivering in second-half August to Yeosu, spot prices have remained at a discount to Japan quotes since June 28. BPCL has an outstanding tender to sell a total of 88,000 tonnes of naphtha for first-half August loading from Kochi and Mumbai.