Home / Knowledge / News / Textiles / Asian naphtha price upholds a rising trend
Asian naphtha price upholds a rising trend
10
Apr '08
On Wednesday, April 8, Asian naphtha price rose to a new high for the second consecutive trading day, due to hike in crude oil futures overnight.

Naphtha price of Japan open specifications for the second half of May rose 4 cents, to US $922.50-923.50 per ton. The difference against the first half of June is narrowed by 50 cents to $2 per ton.

Spot market reached some transactions at higher level. Sietco sold one cargo to Petro-Diamond at $919 per ton to be shipped during the first half of June. Another cargo of Mitsui is sold to Trafigura at $ 919 per ton for the second half of June.

According to market reviews, 100,000 tons naphtha from Kuwait Oil Company for May shipment, has temporarily alleviated the tight supply situation caused by limited arbitrage cargoes from Europe. Strong demand for gasoline in the United States takes European arbitrage cargoes away from Asian market.

Singapore spot naphtha profit will show some positivity after being weak on poor demand; in the context of tight supply led by limited arbitrage cargoes from Europe, naphtha price may be soaring.

Merrill Lynch data show that Singapore spot naphtha maintained profits of about $1.28 per barrel, till the transaction ended by April 4.

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Gujarat finance minister Nitin Patel. Courtesy: Global Gujarat News

Textiles | On 22nd Feb 2018

Rs843 cr for MSMEs, Rs35 cr for khadi in Gujarat budget

The Gujarat government has made a provision of Rs 843 crore in the...

Interviews View All

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search