Asia to net 270,000 tonnes of Western arbitrage naphtha in May

04 April 2011 08:52  [Source: ICIS news]

SINGAPORE (ICIS)--Asia is expected to receive about 270,000 tonnes of arbitrage naphtha supplies from Northwest Europe and the Mediterranean in May, up from 220,000 tonnes to be shipped in this month, traders said on Monday.

“Some of the volumes meant for April will be spilled over to May because of shipping delays. But that has been ironed out,” one trader added.

Naphtha prices in Asia closed at $1,001-1002/tonne (€701-702/tonne) CFR (cost and freight) Japan on Friday, versus $1,019-1,027/tonne CIF Northwest Europe, according to ICIS data.

($1 = €0.70)

For more on naphtha, visit ICIS chemical intelligence

By: Felicia Loo

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