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Asian naphtha prices strengthen on lower supply from West

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/03/2016 (15:58)
According to a Reuters’ report, Japan’s Idemitsu Kosan and Taiwan’s Formosa Petrochemical bought naphtha for first-half May delivery at higher prices compared with discounted levels that they had achieved at the beginning of this month for deliveries in the first half of April.

The increase in prices was attributed to of lower supply expectations from Europe in April. According to traders, an average of 1.4 million tons of naphtha is estimated to arrive in Asia in April compared to the monthly average of 1.8 million tons for the first three months of this year.

According to the report, oversupply issues in the Asian naphtha market have disappeared recently in line with stronger demand from petrochemical crackers.
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