Saturday, September 27, 2008

Oct lifting naphtha witnesses heavy discounts in Asia

Owing to the Asian naphtha glut and a sluggish demand, the naphtha market witnessed heavy discounts for October lifting cargoes. After a heavy discount by Lotte Daesan on its purchase of 50,000 tons oof H1 November arrival naphtha, Kuwait's KPC sold 50,000-75,000 tons of naphtha to India's Reliance at a discount of US$6.

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