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MRPL sells Dec naphtha to Total at record US$47/ton premium to Middle East ... (5-11-2012)
India's Mangalore Refinery & Petrochemicals Ltd (MRPL) has sold naphtha for December from New Mangalore to Total at a record US$47/ton to Middle East quotes on a free-on-board (FOB) basis, as per Reuters.
The sale comes at a time of tight supply and robust demand for December shipments among petrochemical makers, who are ramping up output due to lucrative margins in the downstream ethylene, propylene and monoethylene glycol markets.Taiwan's Formosa Petrochemical Corp is expected to buy another 100,000-150,000 tons of H2-December naphtha shipments.
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