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

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mohammad Hassan
Biax Fiberfilm

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mike Hoffman
Gildan Activewear SRL

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

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

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