13 August 2012 04:28 [Source: ICIS news]
The cargo was sold a t a premium of around $33.50/tonne (€27.14/tonne) to FOB (free on board)
In its previous tender, MRPL sold a 35,000-tonne naphtha parcel for 9-11 September loading from New Mangalore to PetroChina at a premium of $29.50/tonne to FOB
A stronger reforming margin, or the price spread between gasoline and naphtha, has prompted some players to divert naphtha supplies into gasoline blending, they said.
Gasoline demand in top buyer
Moreover, refinery upsets in the US West Coast engendered the pull of Asian arbitrage gasoline barrels to plug in the domestic supply shortfall, they added.
($1 = €0.81)
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