13 June 2012 11:15 [Source: ICIS news]
“This maybe [is] a three-and-a-half year low,” a South Korean cracker operator said.
Naphtha crack spreads have been steadily falling since end-May.
“At the rate the crack spread is falling, it may just slip into the negative territory,” a Singapore-based trader said.
The second-half July naphtha contract was at $733.00-735.00/tonne CFR (cost and freight)
“There is no support to the cracks. Refineries may still run high, as they could cover their loss, given the robust demand of gasoline,” another cracker operator said.
($1 = €0.80)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections