India’s Reliance sells 55,000 tonnes naphtha at lower premium

08 February 2011 07:56  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries has sold 55,000 tonnes of light naphtha for loading from Sikka, Gujarat state, in late February at a lower price because of the rising supply in Asia, traders said on Tuesday.

The spot cargo was traded at a premium of $15/tonne (€11/tonne) to Middle East quotes FOB (free on board) and would be loaded on 24-26 February, they added.

Reliance last sold a similar-sized cargo to trader Trafigura for loading at Sikka from late January to early February at a premium of $25/tonne to Middle East quotes FOB.

($1 = €0.74)

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By: Felicia Loo

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