- Slow demand from blenders- India prompts tight shipments in H2 Sept



Due to gains in upstream naphtha prices,
the Asian toluene FOB Korea marker rose $1-2/mt on the day to $977-1000/mt FOB
Korea on Sept. 6. C&F
Japan's naphtha market increased by $8.25-9.5/mt per day to $674.75-700.50/mt on Sept. 6, from $666.25-700.50/mt. China's
extant discussion levels were supported by high demand in China. Sources said they cannot export if FOB China levels do not
exceed $1,000-1,040/mt. According to an
estimate of Yuan 7,870-8,000/mt for prompt domestic east China export tanks,
this price is stable under an offer of Yuan 7,880-8,500/mt. Bids above that
amount were heard at Yuan 7850-8500/mt. This equates to $984.65-1020.50/mt if
you use import-parity. "I believe
prompt cargo is long. The structure,
however, is quite short. Therefore, prompt
[is] in] contango. Nov-Dec, however, can...