Falling by over a dollar, naphtha crack in Asia continued its downward trajectory for the third straight session to US$128.1/ton, as abundant supplies pressured market sentiment, as per Reuters. Significant slide of US$8.50/ton was seen in premiums for South Korea's YNCC purchase of two H1-August cargoes at the end of last week. This was around 30% lower than its last purchase of up to 90,000 tons of H2-July.
South Korea’s second condensate splitter with capacity to produce 100,000 bpd by SK Incheon Petrochem will see commencement of production in mid-July, a key reason behind the soft market sentiment. This project follows Samsung Total Petrochemical's 150,000 bpd condensate splitter expected to start up in July as well.
23-Jun-14 
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