Home / Knowledge / News / Textiles / Naphtha markets turn bullish
Naphtha markets turn bullish
10
Dec '09
Naphtha prices in Asia rose on Tuesday, as market trends again turned bullish. Brokers said that current spread of naphtha in the second half of January and January Brent crude futures rose by US $12.80 to $153.20 per ton.

Buying interest in local markets resumed, as Formosa Petrochemical intended to buy naphtha for delivery in the second half of January through tenders. The tender would close on Wednesday.

On the supply side, market participants said that, while more European arbitrage shipments may be restricted by high freight rates, spot supply in the Middle East and India is still expected to increase.

Dealers said on Tuesday that Saudi Aramco Oil Company intended to sell naphtha cargo with shipment in the first half of 2010 at higher level than the second half of 2009, which was in line with market forecasts.

It is believed that Saudi Aramco was able to sell A-180 light naphtha at a premium of $14 per ton and Jubail Chemical Raw Material was able to sell A-310 at a premium of $12 per ton, both above the prevailing markets rates. The prices were not immediately confirmed. Saudi Aramco Company sells naphtha at FOB (FOB) price.

Contract price of Japan's open specification naphtha for shipment in the second half of January rose $7 per ton from the previous trading day, to $728.50 per ton. Half month spread of the first half of February maintained at $7.5 per ton. The full month spread of the second half of January remained at $12.50 per ton.


Fibre2fashion News Desk

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search