The already damp Asian markets could witness further deterioration in market outlook and sentiments with a supply glut from the Middle East. As per Reuters, almost 700,000 tons of spot naphtha for Jully-August loading will be exported by 4 major Middle East producers (Saudi Aramco, Tasweeq, Adnoc, KPC) at a time when naphtha demand has been affected by sluggish buying interest from China.
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Tuesday, July 06, 2010
700,000 tons of spot naphtha for July-Aug loading from Middle East to further dampen markets
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