Naphtha has started to firm up in Asia on reduced flows of European cargoes for April arrival. Naphtha price differential in Asia for H1-April and H1-May rose to US$9.25/ton, the highest in three weeks. The wider the differential, the stronger the market, traders said, and the firmer sentiment resulted in spot deals being concluded at higher premiums. As per Asiastar.com, Malaysia-based Titan has concluded a term contract to buy upto 200,000 tons of naphtha for the period of April 2014 to March 2015. South Korea's YNCC bought two naphtha cargoes totalling 45,000 to 60,000 tons for H1-April delivery to Yeosu at premiums of about US$8/ton to Japan quotes on a C&F basis. The premium is more than double what YNCC paid for a H2-March cargo, Reuters data showed, although still sharply below what it had paid in December for a H1-February cargo at US$17.50.
27-Feb-14 
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