- MRPL issues offer tender for 20,000 mt naphtha- Hanwha and YNCC concludes naphtha tender- Front month Japan naphtha swap time spread narrows





Sentiment in the Asian naphtha market
weakened further April 27, while the complex saw an increase in activity with one offer tender
issued while two concluded, sources said. Weaker sentiment was reflected in the derivatives market,
as the backwardation narrowed in mid-afternoon
trade April 27. Brokers
pegged front-month May-June Japan naphtha swap spread at $4.25/mt,
narrowing of $4.75/mt at the April 26 Asian close. Market participants remained cautious and were heard
adopting a wait-and-see stance
amid global macroeconomic uncertainties.
"The [naphtha] market is soft right now due to sentiments from the
economy. I don't think the naphtha market will go up especially it's the
holiday period in China and Japan next week," a trader said....