Home / Knowledge / News / Textiles / Indian naphtha producers command good premium
Indian naphtha producers command good premium
24
Dec '09
Asian naphtha prices closed lower on Wednesday. Enquiries from downstream users for spot naphtha slowed down due to public holidays in Japan. However, some traders still expect that buyers will return to the market next week after Christmas holidays.

Deals made by Indian companies like Oil and Natural Gas Corporation (ONGC), Bharat Petroleum (BP) and Indian Oil Corporation (IOC) showed that premium commanded by Indian naphtha was still at the highest level this year.

Oil and Natural Gas Corporation sold 35,000 tons of naphtha cargo for shipment on January 15-16 and to be loaded at Hazira. The price was close to a premium of US $50 per ton (FOB) over offers from the Middle East.

Bharat Petroleum sold 30,000 tons of low aromatic naphtha to Daelim Corporation at a premium of $43 per ton (FOB), for shipment between January 16-20 and it sold one more consignment of 30,000 tons of low aromatics naphtha cargo to Itochu Corporation at a premium of $41.50 per ton (FOB), for shipment between January 27 and 31.

Indian Oil Corporation sold three consignments; 35,000 tons, 30,500 tons and 30,000 tons of naphtha to be loaded between January 20 and 25 from various ports across India. The buyer of all these consignments was Itochu Corporation, which paid a premium of $40-47 per ton over and above the pricing formula of Indian Oil Corporation.

Hindustan Petroleum released a tender for selling 25,000 of naphtha cargo for shipment between January 24 and 26, to be loaded in Mumbai. The tender will close on Thursday and tender bids are valid for the same day and it is expected that, buyer's bids may be slightly higher due to strong demand in Northeast Asia.

In the spot market, Cargill sold Shell a naphtha cargo for shipment in the second half of February at $707.50 per ton. Naphtha price of Japan's benchmark in the first half of February fell $3.50 to $722.50 per ton.

Naphtha spread between the first half of February and the second half of February was + $15 per ton. Naphtha spread between the first half of February and the first half of March was + $25 per ton.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Apparel/Garments | On 28th Apr 2017

Deckers Brands starts review of strategic alternatives

Deckers Brands, a global leader in designing, marketing and...

Courtesy: Adidas

Apparel/Garments | On 28th Apr 2017

Adidas, Siemens initiate joint research programme

Adidas and Siemens are initiating a joint research programme for...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

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

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X