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Asian naphtha demand for May likely to boost up

20
Mar '08
Almost five transactions concluded in Asian naphtha spot market on March 19. On this day, Victorian Company sold naphtha cargo to Morgan Stanley at US $897 per ton for shipment in second half of May, and to Sempra at the price of $897 per ton to be exported during the similar period.

In the meanwhile, Mitsui HK also procured naphtha cargo for $899 per ton, to be shipped during the second half of May.

Shell purchased naphtha from Korean Chemical and Glencore International AG with premium of $4.00 and $4.25 per ton, respectively, to be exported between second half of May and second half of June.

According to traders, naphtha demand for May should be higher than that in April, because majority of petrochemical plants in North Asia would complete their maintenance.

Gasoline market held steady, after declining for three consecutive days, rationalization profit was unchanged at $10.27 a barrel.

Fibre2fashion news Desk - China


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