Naphtha margins in Asia have eased by 5% to reach a three-session low of US$51.10/ton premium on Monday as demand uncertainties knocked off traders' confidence, as per Reuters. South Korea's Honam bought around 25,000 tons of naphtha for H1-August arrival at Yeosu port at about US$2/ton above Japan quotes on a cost-and-freight (C&F) basis, the highest premium seen in the country in a month.
However, demand in Taiwan was less clear, with CPC shutting its 380,000 tpa No. 4 cracker early in the week, to be restart around mid-July. Its other 500,000 tpa cracker is operating at about 90% capacity. This leaves only two of five naphtha crackers in operation this week in Taiwan, as Formosa's two of three crackers remain shut.
03-Jul-12 
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