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Asian naphtha prices move above $400/ton threshold

by ChemOrbis Editorial Team -
  • 14/04/2016 (11:18)
According to market sources, spot naphtha prices posted consecutive increases to move above the $400/ton threshold in Asia due to higher crude oil prices, although sentiment remains mixed in the face of sufficient supply.

Spot naphtha prices in Asia increased $30/ton week over week to be currently reported at around $400-405/ton CFR Japan, hitting the highest levels seen since early January 2016, according to weekly average prices on ChemOrbis Price Wizard. Meanwhile, spot naphtha prices in Europe also rose about $25/ton on the week to be currently reported at around $380-385/ton CIF NWE.

Recently, crude oil prices have moved above the $40/barrel threshold. On Wednesday, NYMEX May crude settled at $41.76/barrel while ICE June Brent crude settled at $44.18/barrel.
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