Home / Knowledge / News / Textiles / Asian spot naphtha prices fall
Asian spot naphtha prices fall
21
Jan '10
Spot naphtha prices in Asia fell Wednesday, while the increase of the spread between near-term naphtha price over long-term narrowed.

Naphtha market conditions further weakened, because crackers in Japan and South Korea have reduced operating capacities, in view of expected decline in regional markets in March. At the same time, new arbitrage cargoes also weighed on the market.

However, economic benefits of arbitrage cargoes do not seem very stable. Early in the week, the spread between East-West naphtha prices was about US $40-45 per ton, which has now narrowed to about $35 per ton later, which could further inhibit arbitrage shipments in March.

Brokers said the price of benchmark Japan's open specification naphtha for arrivals in the first half of March fell $9 on Wednesday to $735 per ton. The spread between the first half of March and second half of March was + $8 per ton and the spread between the first half of March and first half of April was + $13 per ton.

Reliance Industries, an Indian company plans to sell more naphtha spot with shipment in February and its bids might decline from recent sales prices, because regional demand is expected to reduce.

Reliance released a tender to sell 75,000 tons of naphtha cargo to be loaded between 16 and 20 of February. Earlier, the company had sold 75,000 tons of naphtha at a premium of $40-42 per ton over the price in Middle East, with shipment in 3-7 of February, to a Japanese company.

Fibre2fashion News Desk


Must ReadView All

Courtesy: Pexels

Textiles | On 15th Jul 2018

WCO publishes global standards on e-commerce

The World Customs Organization (WCO) has published the Framework of...

Courtesy: M Dohmen

Textiles | On 15th Jul 2018

Archroma takes remaining minority shares in M Dohmen

Archroma, leader in colour and specialty chemicals towards...

Courtesy: Reebok

Fashion | On 15th Jul 2018

Reebok, CFDA join hands to nurture America's fashion

Global fitness and lifestyle brand Reebok has joined hands with the...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Mark Paterson
Technical Absorbents Ltd

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

Kerem Durdag
Biovation II LLC

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

Steve Cole
Xerium Technologies

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

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Jay Ramrakhiani
Occasions Elegance Wear

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search