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India's MRPL managed largely steady premiums for December lifting cargo

November 11/2011

(Plastemart) -- India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has managed largely steady premiums for December lifting cargo, as per Reuters. MRPL sold a cargo of 35,000 tons for Dec. 28-30 loading from New Mangalore to Cargill at premiums of about US$14/ton to Middle East quotes on a free-on-board (FOB) basis. Two other cargoes for December loading have been sold to Vitol and Total at premiums of US$14/ton and US$14.15/ton respectively.However, these figures are weaker when compared to November premiums of US$18-23/ton as lack of petrochemical import demand from China has resulted in weaker naphtha sentiment.

Perspectives of development of polymer markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit will be organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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