15 December 2011 10:21 [Source: ICIS news]
(adds impact on naphtha prices)
FPCC has raised the run rates at its three crackers in Mailiao to 85-86% from 80-85% previously, hence the need for the spot barrels, they added.
The cargoes were transacted at a premium of $3.00-3.50/tonne (€2.31-2.70/tonne) to
The latest FPCC purchase helped trigger a stronger backwardation in the naphtha market on Thursday. The intermonth spread between the second-half January and second-half February contracts widened $1.00/tonne from Tuesday to $5.50/tonne in backwardation on Wednesday’s close, ICIS data showed.
The naphtha crack spread versus
FPCC ceased spot naphtha imports from August to mid-December because of cracker shutdown issues.
($1 = €0.77)
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