Weaker demand diverts European naphtha into Asia

Weaker demand for naphtha in Europe as well other Western countries is promoting arbitrage activity to Asia. Almost 200,000 tons of European naphtha is expected to arrive in Asia in June. As of Monday, Asian open-spec naphtha fetched US$29.25/ton more than European cargoes. Traders generally see a price difference of over US$30/ton as arbitrage opportunities for West-East naphtha open.
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