Asian Naphtha Market Sentiment Still Bullish

摘要

Supported by steady demand, Asian naphtha market sentiment has been still bullish. The intermonth spread was assessed at US$12.5/MT two weeks ago, which is currently narrowed to US$10/MT between the first half June and first half July contract. It is impossible to win contracts for spot cargoes unless buyers accept expensive price. Last week, South Korean buyers such as Samsung Total, LG Chem and Lotte Chem were awarded contracts for cargoes arriving in the second half of May at about US$10/MT to Japan quotes on CFR basis one after another.