Reliance Industries has sold around 55,000 tons of April naphtha to Vitol at premiums of about US$41/ton to Middle East quotes on a free-on-board (FOB) basis, down nearly 27-30% from a previous sale, as per Reuters. The cargo is to be lifted from Sikka port on April 10-15. Premiums have dipped because of lack of naphtha demand caused by cracker outages in South Korea and Japan and easing tight supplies from India. However, current FOB premiums are still sharply higher than what they were at the start of the year, mainly because of ongoing refinery maintenance in the Middle East have curbed supplies coming to Asia.
28-Mar-12 
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