MukeshAmbani-led Reliance Industries sold 75,000 tonnes of naphtha for early March lifting at sharply lower premiums as sentiment headed south on softer demand caused by upcoming maintenance, traders said on Wednesday.
The privately-run refiner sold the parcel by tender for March 5-9 lifting from Sikka to Gunvor at a premium around the low $20.00s a tonne level to Middle East quotes on a free-on-board (FOB) basis, traders said.
This was markedly lower compared to $34.00-$42.00 a tonne premiums it had fetched for two separate cargoes totalling 150,000 tonnes in size for February loading from the same port.
India's naphtha exports for March loading are expected to be marginally lower at 720,000-750,000 tonnes versus around 800,000 tonnes in February.
Source:http://in.reuters.com/article/domesticNews/idINSGE61G0DD20100217
Labels: Reliance, Reliance Group, Reliance Industries, RIL