India’s Oct naphtha exports seen at 800,000 tonnes, similar to Sept

26 September 2013 05:34  [Source: ICIS news]

SINGAPORE (ICIS)--India’s naphtha shipments for October are estimated to be 800,000 tonnes, broadly similar to the volumes shipped out for September, traders said on Thursday.

For this month, Indian refiners shipped out 750,000-800,000 tonnes, they added.

The healthy export volumes, including ample cargo availability of deep-sea naphtha supply, pressured down the naphtha intermonth spread at the close of trade on 25 September, traders said.

The naphtha spread between the first half of November and first half of December contracts narrowed to a backwardation of $2.75/tonne (€2.04/tonne) on 25 September from a backwardation of $4.00/tonne on 24 September, according to ICIS data.

($1 = €0.74)

By: Felicia Loo

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