Naphtha margins in Asia end year 18.5% higher on tight supply

Asian naphtha margins ended the year 18.5% higher at US$129.45/ton due to tight supplies, a trend that will continue in 2013 as more refineries undergo maintenance, as per Reuters. Asian naphtha prices also ended 2012 up nearly 4% at US$958.50 vs the start of the year. Many refineries in the region will go into turnaround in 2013, which will reduce supplies and make Asia, which is structurally short of naphtha, even more reliant on Europe and the Mediterranean for supplies. Petrochemical units, however, are expected to skip maintenance and run at high rates next year due to the optimism surrounding the growth in China's economy.
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