Monday, May 27, 2013

Naphtha gains in Asia on buying tender by Lotte

The Asian naphtha price rose on Monday to reach US$875.75/ton, the highest since May 10, while its margin hit a four-session high of US$93.50/ton on spot and term demand, as per Reuters.


South Koreaa's top ethylene maker Lotte Chemical issued a tender to buy an additional 25,000 tons of naphtha for H2-June arrival at Daesan, surprising some traders as most had expected the petrochemical maker to have completed its purchases for H2-June.



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