Shipments from Europe are set to almost triple, as naphtha prices in Asia have spiked to two year highs. Asian naphtha prices have risen on increased demand from China amid fuel shortages. Asia-bound naphtha cargo is likely to touch 290,000 tons this month from 110,000 tons in October, according to the median estimate of four European traders surveyed by Bloomberg.
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Wednesday, December 08, 2010
Shipments from Europe to triple as naphtha prices in Asia spike to two year highs
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Petrochemical companies need not only hedge their raw material naphtha feedstock, mindset must change too.perhaps, they need to store more naphtha in the cavern like the jurong caverns to buffer huge swing in prices.
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