Naphtha cracks in Asia have plunged to 8 month lows and Asia's naphtha price fell to three-week low, as oversupply dragged down sentiments despite demand from South Korea. LG Chem has purchased 100,000 tons of naphtha from three sellers for H1-August arrival at Daesan and Yosu at discounts of US$4.50/ton and US$5/ton, respectively, to Japan spot quotes on a cost-and-freight (C&F) basis.
The reason for the steep discounts could be an attempt by traders to find buyers for their Western barrels arriving in Asia.
30-Jun-10 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}