07 March 2011 03:53 [Source: ICIS news]
SINGAPORE (ICIS)--Asian naphtha gained $4.50-5.50/tonne (€3.24-3.96/tonne) on Monday, tracking robust global crude futures amid a deepening crisis in ?xml:namespace>
The second-half April naphtha contract was at $1,025-1,028/tonne CFR (cost and freight)
At 03:00 GMT, NYMEX crude futures traded $1.55/bbl higher at $105.97/bbl, while London Brent crude futures rose by $1.10/bbl at $117.07/bbl.
Meanwhile, soaring naphtha prices might prompt some producers in
LPG is now a much cheaper feedstock than naphtha.
Naphtha cracker operators will consider using LPG as feedstock when LPG prices are around 90-95% of naphtha values.
LPG prices were valued at $897.04-907.04/tonne on Monday morning, or around 88% of naphtha values, traders said.
($1 = €0.72)
For more on naphtha, visit ICIS chemical intelligence
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