Naphtha rebounds from five month lows in Asia

29-Jun-11
Asia's naphtha price rebounded from a five-month low to settle at a two-session high; while cracks stayed sharply below this year's average due to ample supplies, as per Reuters. South Korea's LG Chem was the first to issue a tender to buy H1-August cargoes, locking in 50,000-75,000 tons of open-spec grade at a discount of US$2.50-3/ton to Japan spot quotes on a cost-and-freight (C&F) basis, similar to levels it had paid on June 22 for 50,000 tons for H2-July arrival. Sellers are dealing with ample supplies. Other than heavy naphtha (usually used for aromatics), demand for other naphtha grades is not that good. The price for open spec naphtha, front-month H1-August, recovered by US$20 to US$878/ton.
  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
Reclamax single step plastic recycling machine

Reclamax single step plastic recycling machine