Asian naphtha prices break below $350/ton
Spot naphtha prices in Asia declined around $75-80/ton week over week to be currently reported at around $345/ton CFR Japan, hitting the lowest levels seen since late January 2009, according to weekly average prices on ChemOrbis Price Wizard.
On Tuesday, NYMEX February crude declined 97 cents to settle at $30.44/barrel while ICE February Brent crude was down 69 cents to settle at $30.86/barrel. The current oil prices represent the lowest levels in almost twelve years because of oversupply concerns, weak demand and economic uncertainty in China and other emerging markets.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Bleak outlook for Q1 keeps European PP, PE buyers sidelined
- PLAST EURASIA 2022: Eyes on Russian and US supplies with demand woes in focus
- December PE offers to SE Asia imply further drops, yet to respond to China
- Has the bear market for Asian PVC almost run its course?
- Demand outlook for crude oil dims amid China worries
- Asian styrene prices rebound from almost two-year lows
- Turkey’s PE market on brink of new drops for December
- Signs of optimism in China PP and PE markets, but caution remains
- Egypt’s import PP, PE markets flat but domestic prices turn upwards in Nov
- PVC downturn enters 7th month, prices still far from pre-pandemic levels in Europe