03 August 2010 07:10 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s Maruzen Petrochemical is operating its 520,000 tonne/year naphtha cracker at Chiba at full capacity this month, a company source said on Tuesday.
“As for September, we are not sure whether we will maintain runs [at 100%],” said the source. "Margins are not good for petrochemicals," the source added.
Regional naphtha market was awash with supply while demand trickled down, as end-users took their time to shop for cargoes, traders said.
Asian first half September contract rose to a seven-week high of $678-681/tonne (€515-518/tonne) CFR Japan on the back of solid crude futures at above $81/bbl, ICIS data showed.
($1 = €0.76)
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