Asia to receive over a million tonnes of deep-sea naphtha in April

26 February 2013 09:28  [Source: ICIS news]

SINGAPORE (ICIS)--Asia will receive more than a million tonnes of deep-sea naphtha supply from the western markets in April, similar to the 1.3m tonnes of arbitrage naphtha inflows booked for arrivals in March, traders said on Tuesday.

The deep-sea inflows for both months will hail from northwest Europe, the Mediterranean, Russia, as well as the US, they said.

In spite of strong arbitrage inflows, naphtha prices continue to be supported by strong Asian demand, traders said.

The first-half April/first-half May spread of Asia’s open-spec naphtha was stable at $29/tonne (€22/tonne) in backwardation at the close of trade on Tuesday, according to ICIS data.

($1 = €0.76)

By: Felicia Loo

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