Asian naphtha falls while premiums remain at 5 week high

Naphtha price in Asia fell to a low of US$962.5/ton tracking Brent crude losses but intermonth premiums stayed at a five-week high, supported by vibrant spot demand, as per Reuters. Intermonth premiums are the difference between front-month H1-October and H1-November prices. Honam Petrochemical bought naphtha US$9.50-10/ton above Japan quotes on a cost-and-freight (C&F) basis, five times more than what it had paid on Aug. 23. Demand from South Korea continues to be healthy with some buyers yet to conclude H1-October spot purchases.
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