Tuesday, March 10, 2009

Low price bids compels Reliance to cancel sale tender of 960,000 tons of naphtha for April 2009-March 2010

Premiums for Asian naphtha have dropped over the fortnight as robust Chinese demand started to wane. Inability to meet its price expectations has compelled Reliance Industries to cancel a tender offerring up to 960,000 tons of naphtha for April 2009-March 2010.

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