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BUZZ-India's Reliance sells naphtha; premium highest since 2015
November 6, 2017 / 7:31 AM / 19 days ago

BUZZ-India's Reliance sells naphtha; premium highest since 2015

** India’s Reliance Industries sold 55,000 tonnes of naphtha for Dec 2-5 loading from Sikka at about $24 a tonne above Middle East quotes on a free-on-bard (FOB) basis, traders said, making this the highest premium it has received since 2015

** Persistent demand in Asia, which is structurally short of naphtha, have pushed prices up

** Premiums for December cargoes delivering to Mailiao, Taiwan, for instance were at their highest in 2-1/2 years

** China was also seen paying more than double at over $20 a tonne to Japan quotes on a cost-and-freight (C&F) basis for December cargoes (Reporting by Seng Li Peng)

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