Naphtha price in Asia extended gains for the fifth-straight session, nearing a five-month high on Tuesday, while cracks were largely steady supported by a strong European market, as per Reuters. Asia continues to struggle with high stocks, apparent in a spot deal in South Korea where YNCC has bought 50,000 tons of open-spec grade for H1-November arrival at a discount of about US$4/ton to Japan spot quotes on a cost-and-freight basis. In term talks, Kuwait Petroleum Corp (KPC) made its first offer for supplies
lifting December 2010 to November 2011 lifting at a premium of US$15/ton to
Middle East quotes on a free-on-board (FOB) basis.
06-Oct-10 
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