India seen exporting 750,000-800,000 tonnes naphtha in July

24 June 2013 03:07  [Source: ICIS news]

SINGAPORE (ICIS)--Indian refiners are estimated to export 750,000-800,000 tonnes of naphtha supplies in July, traders said on Monday.

The volumes are slightly higher than the 750,000 tonnes shipped out this month, they added.

The firmer volumes will add to the strain of heavy supplies in Asia, as such the price differentials are likely to be curbed, traders said.

Open-spec first-half August prices fell by $17.50-18.50/tonne (€13.30-14.06/tonne) from Friday to $850-853/tonne CFR (cost & freight) on Monday morning, in tandem with an overall decline in global crude futures.

($1 = €0.76)

By: Felicia Loo

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