11 September 2012 11:20 [Source: ICIS news]
The second-half October naphtha contract gained $1.50/tonne (€1.17/tonne) from Monday to $1,012-1,014/tonne CFR (cost & freight)
There were no physical trades, traders said.
Meanwhile, the naphtha crack spread versus October Brent crude futures widened by 7.5% from a week earlier to $150.58/tonne on Tuesday, ICIS data showed.
However, on the other hand, naphtha demand is strong in Asia, as South Korean producers are operating their crackers at full tilt and they have a preference for naphtha feedstock instead of the more costly propane, they added.
Spot premiums concluded in recent naphtha trades have been on an uptrend, rising to near record-high prices, traders said.
($1 = €0.78)
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