Plastics Portal For Buying And Selling Plastic Products
Go to->Home - PlasticNews
Naphtha firms in Asia amid supply constraints (28-12-2012)
Naphtha price in Asia rose to a nearly 2-1/2 month high of US$981.50/ton on Thursday, while margin rose to US$148.03/ton to almost 21% higher than a month ago, as per Reuters. A tightly supplied naphtha market and firm demand led by optimism over China's industrial growth have boosted the overall sentiment.
Japan's Mitsui Chem was heard to have bought naphtha for H1-February arrival at a premium of about US$19/ton to Japan quotes on a cost-and-freight (C&F) basis, but this could not be immediately verified. Taiwan's CPC is to award a tender to buy 105,000 tons of naphtha for February delivery but the results were not clear. On supplies, about 650,000 tons of naphtha from Europe, the Mediterranean and the United States are expected to land in Asia in January 2013, with the volumes reflecting a 35% drop versus December.
Asia on an average is net-short of about 500,000 tons of open-spec naphtha, a Singapore-based trader estimated. Separately, positive data emerges from China, giving petrochemical makers hope that its import demand will increase. Petrochemical products include plastics and synthetic rubber which are heavily used in the consumer, industrial and construction sectors. The Xinhua news agency quoted industry minister, Miao Wei, as saying that China's industrial output is on track to grow 10% this year from 2011. He added that the government aims for the same annual growth rate in 2013.
Previous News Previous News
Next News Next News
Forward to friend Forward this news to friend Print this News Print this news
Back To Recent News Archives
Recent News
• SE Asian PP markets rise on higher US dollar and limited supply claimsPlayers in Southeast Asian PP markets reported that local PP prices have risen d
• Pre-buying in NWE PET market amid scheduled turnarounds in Q4 support increase in Oct spot prices
• LyondellBasell allocates PP to customers of Carrington plant
• Naphtha crack in Asia for front-month H2-November recovers from a three-week low
• Polymeric fuel additive can reduce intensity of post-impact explosions, creates safer fuels