Naphtha price in Asia fell to a week low on Tuesday, in line with a decline in Brent crude, but front-month spreads were near their highest in 1-1/2 weeks on firm demand, as per Reuters. Front-month spreads (the difference between premiums for H2-May and H2-June), were at US$16/ton, while naphtha was at US$1,065/ton.
Formosa is seeking open-spec naphtha for H2-May arrival. The first two days of the week saw South Koreans sweeping up at least 175,000 tons for the same period. LG Chem bought 75,000 to 100,000 tons of naphtha for H2-May arrival at Yeosu and Daesan ports at premiums of US$19-19.50/ton to Japan quotes on a cost-and-freight (C&F) basis, a day after Honam picked up 100,000 tons. YNCC bought 80,000 tons of gas-to-liquid (GTL) and plant condensate grades from Tasweeq for late May loading from Ras Laffan at premiums below US$37/ton to Middle East quotes on a free-on-board (FOB) basis.
11-Apr-12 
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