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OIL PRODUCTS: Asian Naphtha Buying Readying for H1 April Procurement: Reuters

OIL PRODUCTS
APACJapanCommoditiesChinaEnergy BulletsSouth KoreaBullet

Asian naphtha markets remain quiet, although interest is beginning to surface as procurement activities for H1 April begins in the next few days, Reuters said.

  • South Korea's YNCC was seeking to buy 25k mt of naphtha for H1 April delivery via a sales tender that closes today with same-day validity, Reuters added.
  • Market participants anticipate that China's buying appetite will be opportunistic and price driven, as domestic cargoes could be easily available at more competitive prices.
  • Production margins for the pet feedstock NAF-SIN-CRK ended Asia’s trading session at $112/mt, a slight gain on the day, Reuters said.
  • Despite the lacklustre demand, prices remain supported by tighter near-term supply as a closed Arbitrage restricts west of Suez flows.
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Asian naphtha markets remain quiet, although interest is beginning to surface as procurement activities for H1 April begins in the next few days, Reuters said.

  • South Korea's YNCC was seeking to buy 25k mt of naphtha for H1 April delivery via a sales tender that closes today with same-day validity, Reuters added.
  • Market participants anticipate that China's buying appetite will be opportunistic and price driven, as domestic cargoes could be easily available at more competitive prices.
  • Production margins for the pet feedstock NAF-SIN-CRK ended Asia’s trading session at $112/mt, a slight gain on the day, Reuters said.
  • Despite the lacklustre demand, prices remain supported by tighter near-term supply as a closed Arbitrage restricts west of Suez flows.