China to seek 60,000-90,000T Feb naphtha on shortage

Published: 20 Jan 2009 18:52:05 PST

SINGAPORE, Jan 20 - China, normally a net naphtha exporter, has emerged to seek spot cargoes for February delivery to fill a shortfall in domestic production, regional traders said on Tuesday.

Traders estimated that the country could need about 60,000-90,000 tonnes of the petrochemical feedstock to plug the shortfall, as its top refiners cut runs to their lowest in about 2-½ years due to slow overall fuel demand. [ID:nPEK97162].

"It is very hard to tell how many cargoes China needs, but it will definitely need more than 60,000 tonnes," said a Singapore-based trader.

Another trader based in the city-state estimated that China could need about 90,000 tonnes of naphtha to fill the void.