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Article: Saudi Aramco to start H2 naphtha talks.
- Article from:
- Saudi Economic Survey
- Article date:
- May 10, 2009
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Saudi Aramco, Asia's top naphtha term supplier, will hold its July- December term negotiations with Asian buyers in London from May 11, coming at a time of weakening demand, traders said.
The last time the heavyweight supplier held talks in mid-December, the market was also struggling to emerge from its worst-ever slump due to poor Chinese demand.
That led to the lowest premiums Saudi Aramco had fetched in years at $3.00-$5.00 a ton above Middle East quotes on a free-on-board (FOB) basis for supplies lifting in the first-half of this year. "But they may not go low this time,as they have already lost out when the market trended upwards most of this year ...