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In Asia naptha spot prices are likely to move sideways this week

November 21/2011

(ICIS) -- Naphtha spot prices in Asia are likely to move sideways this week because of weak demand, ample supply from Indian refiners and negative petrochemical margins, traders said on Monday. The open spec Asian naphtha contract for the first half of January fell by $11/tonne (?8/tonne) from Friday to $857.00-860.00/tonne CFR (cost and freight) Japan on Monday, ICIS data showed.


The naphtha crack spread versus January Brent crude futures was assessed at $52.68/tonne on Friday, down from $36.75/tonne in the previous week.


The crack spread narrowed from $57.05/tonne on Thursday, which was the highest since 1 November because of the strength in Europe naphtha prices then which in turn was underpinned by firm gasoline prices.


УThe (naphtha) market does not have strength. In fact, it is limping,Ф said one trader.
The spread between the naphtha contracts for the first half of January and the first half of February was assessed unchanged at parity on Friday, ICIS data showed.


Perspectives of development of the polymers 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 is 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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