Chemicals Updates

Asia and Middle Eastern Naphtha Daily Market Analysis / South Korea ramps up naphtha procurement / India’s BPCL sells 33,000 mt of naphtha for May 10-11 loading

May 21, 2026

The Asian naphtha market remained largely steady April 21, while the South Korean government ramps up efforts to secure naphtha supplies. Brokers pegged the front month May-June Mean of Japan swaps time spread at $56.50/mt in midafternoon Asian trading April 21, down $1.50/mt from the previous Asian close. The South Korean government and private-sector refining companies are intensifying efforts to secure naphtha and condensate supplies to maintain adequate feedstock volumes for the country’s petrochemical industry, according to refining sources, the trade ministry, and the Presidential Office over April 17–20. Presidential Chief of Staff Kang Hoon-sik managed to secure 2.1 million mt of naphtha for delivery throughout the rest of the year, according to the Presidential Office briefing transcript seen by on April 20, after returning from visits to four countries...

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