Amid firm demand, naphtha margin in Asia rises to 7 month high

04-Nov-16

Naphtha margin in Asia climbed to a 7 month high on Thursday as demand continued to be firm in the region, with deals done at higher levels, as per traders in Reuters. South Korea's Lotte Chemical bought up to 27,500 tons of naphtha for delivery in H2-December at a premium of about US$2/ton to Japan quotes. "Demand recovery is in full swing with no troubled crackers in the region," one North Asian trader said, adding that some of this could be attributed to the Colonial Pipeline blast in the United States.