India’s Reliance sells 75,000 tonnes naphtha for late Sept

10 September 2012 04:54  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has sold 75,000 tonnes of spot naphtha for loading from Sikka in late September, traders said on Monday.

The buyer was trading firm Cargill which paid a premium of around $40/tonne (€31/tonne) to Middle East FOB (free on board) quotes for loading on 25-30 September, they added.

Reliance previously sold 75,000 tonnes of spot naphtha to Switzerland’s trading firm Mercuria at a premium of $25/tonne to Middle East FOB quotes for loading from Sikka on 23-27 August.

Reliance had sold a total of 90,000-95,000 tonnes of spot naphtha for loading in August. The company resumed August exports, after skipping exports in July.

($1 = €0.78)

By: Felicia Loo

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