India’s Reliance sells 100,000 tonnes naphtha to Totsa

23 August 2010 08:07  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries has sold 100,000 tonnes of spot naphtha to trading firm Totsa for loading from Sikka in the second half of September, traders said on Monday.

The cargoes fetched a premium of $17-18/tonne to Middle East quotes FOB (free on board), they said.

Reliance last sold 75,000 tonnes of naphtha at a premium of $7-8/tonne to Middle East quotes FOB for loading in late August.

Prices were on the surge as some market players were actively trying to cover their short positions, they said.

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By: Felicia Loo

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