MOPJ Naphtha Swaps & LG Chem Shutdown

Asia and Middle Eastern Naphtha Daily Market Analysis / LG Chem shuts No. 2 steam cracker on feedstock shortage / Arbitrage supplies provide slight relief to market

Jun 02, 2026

The Asian naphtha market firmed on March 24, with petrochemical end-users trying to secure supplies via privatenegotiations, market sources said. No open tender was seen in the market, and there appears to be only private deals now, with limited naphtha supply availability, market sources said. Asian naphtha shorts are presently covered from the West of Suez, while factoring in high freight rates, an Asia-based trade source said. While providing some relief to the market, these supplies are still insufficient compared to volumes from the Middle East, the source added. In the derivatives market, brokers pegged the front-month April-May Mean of Japan swaps time spread at $94/mt in midafternoon Asian trading on March 24, down $12/mt from the previous Asian close. In cracker news, South Korea’s LG Chem shut its No....

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