19 February 2013 08:57 [Source: ICIS news]
SINGAPORE (ICIS)--India’s refiners are expected to export around 600,000 tonnes of naphtha in March, up from 500,000 tonnes shipped out in February, traders said on Tuesday.
Despite a higher volume estimated for next month, the exports are lower than the monthly average of 800,000-900,000 tonnes in 2012, they added.
“The domestic structure in India has changed. There is a higher demand for gasoline-powered cars in India,” said one trader.
The exports in February were limited because of a fire incident in a fuel tank and refinery maintenance works, traders said.
Because of the continued low exports from India, the naphtha prices are expected to be buoyant, they added.
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