Naphtha in Asia falls to 3-session low on muted spot demand

03-Jun-13
The Asian naphtha price and its margin fell on Wednesday, reaching three-session lows of US$867.50/ton and US$101.90/ton respectively, as spot demand stayed muted for a second day, as per Reuters. Taiwan's CPC came forward with a purchase tender for 35,000 tons of full-range naphtha and 35,000 tons of heavy grade for July 1-20 arrival at Kaohsiung. The tender is to be awarded on June 4. Traders said CPC probably bought a June 1-25 heavy naphtha cargo last week but premium details were not available.
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