September, 18 (plastemart.com) -- Kuwait Petroleum Corp (KPC) is
considering selling an extra 50,000 tons of naphtha as spot cargo this
month, taking September spot exports to at least 200,000 tons.
This level is still lower than record-high levels of 300,000 tons in
May as well as in July. The regularity of exports by KPC is an
indication that the delayed Kuwait Aromatic plant is not ready for
start up. When the plant comes onstream, it will require 1.5 mln tpa of
full-range naphtha from KPC.
This additional supply of naphtha will flood the market when the
outlook is pessimistic and sentiments are weaker than about fifteen
days ago. Markets are bearish on limited buying and increased exports
from India after its delayed monsoon has limped to normalcy. The
persistent absence of supply from Europe has supported crack spreads at
above US$100/ton since August 26
mrcplast.com
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