09 December 2013 10:01 [Source: ICIS news]
SINGAPORE (ICIS)--Asia may receive up to 2m tonnes of arbitrage naphtha supply from the western markets during January, including volumes which are likely to be spilled over from December, traders said on Monday.
Previously, the deep-sea inflows were being estimated at 1.55m tonnes for arrival in January, they added.
They were mostly heavier grade naphtha, hailing from northwest Europe, the Mediterranean, Russia and the US, the traders said.
“There should be rollovers from second-half December [arbitrage supply] into the first half of January,” said one trader, adding the rough wintry seas were a factor for the spill-over.
Meanwhile, Asia’s open-spec second-half January naphtha rose by $1/tonne (€0.73/tonne) from 6 December to $983-985/tonne CFR (cost & freight) Japan on 9 December, ICIS data showed.
($1 = €0.73)
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