Naphtha prices rise to month highs

24-Feb-10
Naphtha prices in Asia rose to almost month highs, while cracks rose to a two-week high, held up by Northeast Asian demand and concerns over supply disruptions in France. Formosa, Asia's top spot naphtha buyer, is in talks to buy April parcels after having skipped spot purchases for March arrivals. Japan's Mitsui Chemicals bought 25,000 tons of naphtha for H2 March arrival at a premium of US$8/ton to Japan spot quotes, C&F, from a Japanese trader. South Korea's LG Chem purchased a medium-range parcel for H1- April arrival at Yosu at a premium of around US8-8.50/ton to Japan spot quotes C&F from a Korean trader. However, LG Chem could not secure 50,000 tons for H1-April at Daesan, as anticipation of intensifying sentiments has held back sellers. Sellers have adopted a wait-and-watch policy in view of the strong European market and healthy demand from South Korea and Taiwan. The protest at Total had impacted naphtha more than it did on gasoline.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha