Reliance’s premiums on June naphtha fall 33%

01-Jun-12
Reliance Industries Ltd has sold 75,000 tons of naphtha for June 24-27 lifting from Sikka at about US$25/ton above Middle East quotes on a free-on-board (FOB) basis, falling nearly 33% compared with a previous sale, as per Reuters. Weaker demand and rising supplies are weighing on premiums. The weak fundamentals are likely to persist through Q3-2012.
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