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Asia Naphtha-India's MRPL fetches higher premiums

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SINGAPORE, Oct 12 (Reuters) - India's Mangalore Refinery andPetrochemicals Ltd sold 35,000 tonnes of mid-Novembernaphtha to Unipec at about $39-$40 per tonne above Middle Eastquotes on a free-on-board (FOB) basis, up 14-15 percent from aprevious sale, traders said on Friday.

The cargo is scheduled for Nov. 13-15 loading from NewMangalore port. MRPL had previously sold similar volumes but forNov. 7-9 loading from the same port to PetroDiamond at $34-$35 atonne premiums.

Traders could be covering their short supply positions andother than India, there were limited spot sale outlets to turnto in Asia.

India remains the key spot exporter of naphtha but itsSeptember exports fell to more than a three-year low of lessthan 550,000 tonnes before recovering to above 800,000 tonnes inOctober.

(Reporting by Seng Li Peng; Editing by Gopakumar Warrier)

((lipeng.seng@thomsonreuters.com)(+65 6870 3086; ReutersMessaging: lipeng.seng.reuters.com@reuters.net))

Keywords: NAPHTHA INDIA/MRPL