Wednesday, June 29, 2011

Naphtha rebounds from five month lows in Asia

Asia's naphtha price rebounded from a five-month low to settle at a two-session high; while cracks stayed sharply below this year's average due to ample supplies, as per Reuters.
South Korea's LG Chhem was the first to issue a tender to buy H1-August cargoes, locking in 50,000-75,000 tons of open-spec grade at a discount of US$2.

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