NewsFlashAsia naphtha trade settles at $1,005-1,007/tonne

03 March 2011 09:38  [Source: ICIS news]

SINGAPORE (ICIS)--Asia naphtha settled at a two-and-a-half-year high of $1,005-1,007/tonne for a contract for the second half of April as a result of robust crude futures, according to traders on Thursday.

The traders said that even though no deals were completed for the second half of April, the market closed at $1,005-1,007/tonne, taking a cue from a physical deal for the first half of May at $1,002/tonne CFR (cost and freight) Japan, which was between buyer Cargill and seller Vitol.

Additional reporting by James Dennis

Read John Richardson and Malini Hariharan’s Asian Chemical Connections blog

By: Felicia Loo

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