Friday, February 18, 2011

Asia’s naphtha market favours buyers on anticipated fall in demand, arrival of abundant Western barrels

Asia’s naphtha market is currently in favour of buyers, as spot demand is expected to fall due to upcoming cracker maintenance and abundant Western barrels sail into Asia in March, as per Reuters. Honnam is shutting a 750,000 tpa cracker in Yeosu from April 1-10 for maintenance, reducing its demand by about 66,000 tons during the shutdown period, while LG Chem is shutting its 800,000 tpa cracker in Daesan from end-March for a 45-day turnaround.

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