News
Naphtha prices in Asia edge up to approach three-month highs
Number one Asian naphtha buyer Formosa has bought around 100,000 tons of naphtha for mid-February arrival at premiums of about US$3/ton to Japan spot quotes on a cost-and-freight (C&F) basis, similar to premium paid for 200,000 tons for January arrival. Malaysia’s Titan has paid same amount of premium for 25,000 tons of full-range naphtha for February arrival, ahile South Korea's Samsung Total and rare spot buyer KPIC were unable to buy cargoes for H2-February. Most sellers seemed keen to sell to Formosa. As a result, limited volumes were left for other North Asian buyers.
The price for front-month H2 February rose by US$17 to US$938/ton. Naphtha cracks for H2-February fell to US$95.90/ton.
Source:http://www.plastemart.com
