The differential on Asian naphtha between H1-June and H1-July rose to a more than three-week high on Tuesday as firm demand supported the market, as per Reuters. The H1 June/H1 July spread reached US$18/ton, its highest since April 1, Reuters data showed amid strong demand from Asian crackers. This was in line with the steady to higher premiums paid by South Korea's Lotte Chemical in a tender seeking H1-June cargoes and obtained by Bangladesh Petroleum Corp. in a sell tender. Lotte Chemical was heard to have bought one cargo of full-range naphtha for delivery into Daesan at a premium of about US$17.50/ton to spot Japan quotes on a cost-and-freight basis. This would peg the estimated value of the premium on the typical grade of naphtha at US$16/ton, steady to slightly firmer compared with the last sale to South Korea's LG Chem in a tender on Monday.
23-Apr-14 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}