Asia's naphtha crack edged lower to US$124.45/ton on Tuesday but held near an eight-month high, supported by strong underlying demand and tight supply, as per Reuters. Demand for petrochemical feedstock looked set to rise further as Saudi Arabia's PetroRabigh said it will restart most operations at its refining and petrochemical complex on Thursday after a 50-day planned maintenance period. The company's high olefin cracker unit and its subordinate units will remain offline until December 30, it said.
Naphtha was also supported by strong demand for petrochemicals from China as fast-expanding online markets boost appetite for items like packaging and wrapping despite an economic slowdown that has hit manufacturing. India's Mangalore Refinery and Petrochemical Ltd (MRPL) offered 35,000 tonnes of naphtha for loading December 26-28 from New Mangalore in a tender that closes on Thursday with same-day validity.
Naphtha output by Japanese refiners fell 5.6% last month to 312,623 barrels per day (bpd), with production in the first 10 months of the year down 10% from the same period last year, trade ministry data showed.
04-Dec-15 
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