India's state-owned Indian Oil Corp (IOC) has fetched a higher than expected premium of US$18/ton to Middle East quotes on FOB basis on 30,000 tons of open-spec naphtha sold for Jan 27-30 lifting from Kandla port. This premium comes amid lower Indian exports. IOC sold the previous naphtha cargo to Japan's Itochu at a premium of US$14/ton. According to some traders, the premium fetched is robust amid the low exports and a strong domestic demand.
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