Asia's naphtha market gained strength on Monday as prompt refining margin inched up to its highest in five months amid firm demand, as per Reuters. The October margin rose 7 cents to a discount of US$5.45 a barrel to Brent crude, its highest since April 13.
Naphtha cargoes continued to be traded at high premiums. India's Mangalore Refinery & Petrochemicals Ltd (MRPL) sold 35,000 tons of naphtha for October loading, at a record premium of US$46/ton to Middle East quotes on a free-on-board (FOB) basis.
CFR Japan's September/October timespread inched up 75 cents to a backwardation of US$11.25/ton, while the October/November timespread was 25 cents down at US$9.75/ton.
11-Sep-12 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}