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Thailand's PTT Issues sell tender-
Asia butadiene-
Naphtha spread remains higher than breakeven





Asian
butadiene was stable on March 8 with multiple offers and sell
tenders heard that day by Thailand's PTT. The tender was to sell a spot
cargo for April loading. Many selling interests were also heard
from Chinese sellers. The spot price rose to Yuan 9,100/mt, or
$1,135/mt, on an import basis. In addition, the export market
was higher than that of local China. This prompted selling interest from
Chinese suppliers. However, some market sources indicated that offers from
China would be limited due to falling inventories. The latest
inventory in China of approximately 30,000 mt was at a high end of
25,000-30,000 Upstream. CFR Japan naphtha prices fell $29.25/mt on day to
$712.50/mt March 8 The price spread between butadiene & naphtha
was $487.50/mt according to the data.