SINGAPORE: Asia's naphtha crack rose for the second day on Tuesday to reach $58.13 a tonne, supported by strong demand. South Korea's KPIC, SK Energy, Hanwha Total and Taiwan's Formosa Petrochemical came forward to buy naphtha.

KPIC paid a premium of $5.50 to $6 a tonne to Japan quotes on a cost-and-freight (C&F) basis for naphtha with a minimum of 77% paraffin content scheduled for second-half January delivery. Formosa, on the other hand, paid a discount of about $4 a tonne for heavy full-range naphtha scheduled for second-half January arrival at Mailiao.