Tuesday, September 20, 2011

Naphtha prices in Asia peak to its highest in a week on Friday

Asia's naphtha price was around its highest in a week on Friday and cracks were at a three-week high as demand steadied amid tighter supplies due to a persistent lack of European imports.
South Koreea's Honam Petrochemical was seen seeking volumes for H2 October arrival, a day after LG Chem, Samsung Total and Japanese Idemitsu having bought up to a total of 125,000 tons for the same arrival period at premiums of US$4-8/ton to Japan spot quotes on a cost-and-freight (C&F) basis.

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