- Growing inequalities between splitter- And steam cracker-feed grades
for Asia- KPC tender closed at
$40-$45/mt premium for MOPAG assessments FOB







There have been no new tenders in the Asian
naphtha markets since Nov. 14. The crack has been in negative territoryb>
/b>since March 22 and touched minus $103.55-118.75/mt Aug. 30. The crack has been in negative territory since
march 22nd and reached minus $103.55-120.87/mt on Aug. 30, 2018. Asia’s
naphtha fed steam crackers have seen operating rates drop due to low downstream
margins. After dropping below that level over Oct.
28-Nov. 2, the spread between CFR Northeast Asian and CFR Japan naphtha prices
was $166.505-181.525/mt by the Asian close Nov. 11. The spread
is higher than the $280-$300/mt breakeven point after dropping below
it over Oct. 28-Nov. 2The Singapore reforming
spread or difference between Singapore's 92...