Naphtha price in Asia was at a two-session high of US$1004/ton on Friday due to strong Brent crude values, but high raw material prices and easing tight supplies pushed naphtha margins down to their lowest in three weeks at US$122.6/ton, as per Reuters.
South Korea's Samsung Total came forward and bought naphtha for H2-October delivery at premiums in the mid-teens a tonne level to Japan spot quotes on a cost-and-freight (C&F) basis. The premiums paid were lower when compared to what Honam and LG Chem had paid last week of US $17.50 to 19/ton – for H2- October naphtha.
India's naphtha exports are likely to be higher in October after September shipments fell below 520,000 tons due to refinery maintenance and gasoline demand. However, some traders were expecting the market to remain volatile, where margins could see wide swings as Europe is not expected to be shipping huge volumes of naphtha to Asia in the short term. About 800,000 tons of western naphtha made their way to Asia this month, most of which were from Europe.
17-Sep-12 
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