Asia's naphtha crack for front-month second-half April at US$60.08/ton on Tuesday was the lowest front-month value in 1-1/2 weeks as the market remained awash with supplies, as per traders in Reuters. Too many European and Mediterranean naphtha cargoes were chasing Asian demand in the last months. "But volumes arriving in Asia next month from the West would be higher than March arrivals," said a Singapore-based trader.
Cargoes arriving in Asia in the first quarter were estimated at a total of about 5.4 mln tons, or averaging 1.8 mln tons a month versus an average of 1.7 mln tons a month in 2015, Reuters data showed. The weak fundamentals have weighed on prices.
03-Mar-16 
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