Naphtha inter-month premiums continued on an upward trend with cracks surging to an eight-and-a-half-month high amid strong demand and tight physical supply, as per Reuters.
Underscoring the firm sentiment in the market, Mangalore Refinery and Petrochemicals Ltd fetched a new record premium of US$47/ton to Middle East quotes for a December loading cargo it sold to Total on a free-on-board basis. Demand from Northeast Asian petrochemical makers also emerged with South Korea's Honam Petrochemical heard to be seeking H1-Dec shipments to Yeosu and Daesan. Honam last bought H1-Dec naphtha at a premium of US$18.50/ton to Japan quotes on a cost-and-freight basis.
02-Nov-12 
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