NEW DELHI: Asia’s naphtha refining profit margin eased on Monday, snapping a three-day winning streak, as demand concerns from petrochemical crackers dented market sentiment.
The crack slipped to $132.50 per tonne, down $1.43 from Friday. A spike in crude oil benchmarks also weighed on margins.
South Korea’s LG Chem Ltd and rival Lotte Chemical are expected to shut their respective naphtha crackers, both in the Korean city of Yeosu, for scheduled maintenance in the second and first half of the year, respectively, industry sources said. The gasoline crack, on the other hand, traded steady over $10 a barrel.