India refiners lift May naphtha exports to 700,000-800,000 tonnes

02 May 2013 11:18  [Source: ICIS news]

SINGAPORE (ICIS)--India’s refiners are raising their naphtha exports to an estimated 700,000-800,000 tonnes in May, as compared to shipments of 650,000-700,000 tonnes in April, traders said on Thursday.

Indian refiners are likely to be operating their plants at high rates amid less refinery maintenance scheduled this month.

Asia’s naphtha backwardation weakened to $12/tonne (€9/tonne) on Tuesday from $14/tonne on 30 April because of softer plastics demand and rising feedstock naphtha supply, ICIS data showed.

($1 = 0.76)

By: Felicia Loo

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