Asia to get 1.2m-1.3m tonnes Western deep-sea naphtha in April

21 March 2013 05:55  [Source: ICIS news]

SINGAPORE (ICIS)--Asia will be receiving 1.2m-1.3m tonnes of deep-sea naphtha supply from the western markets in April, and the tentative volumes for May arrivals are 250,000 tonnes, traders said on Thursday.

The May volumes are expected to climb further, they added.

“Traders will try to squeeze more arbitrage (barrels) out from Europe,” a trader said.

Weak naphtha demand in Europe will push more barrels to flow towards Asia, traders said.

The Asia-bound naphtha flows Asia hail from northwest Europe, the Mediterranean, Russia and the US, they added.

Asia’s naphtha crack spread narrowed to $110.43/tonne (€85.03/tonne) against May Brent crude futures on Wednesday from $111.06/tonne on Tuesday, according to ICIS.

($1 = €0.77)

By: Felicia Loo

AddThis Social Bookmark Button

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.

Printer Friendly