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Naphtha prices continue to decline, sink below $400 in Asia

by ChemOrbis Editorial Team -
  • 26/08/2015 (11:45)
According to market sources, spot naphtha prices have dropped below the $400/ton threshold in Asia on ample supply levels and weakening crude oil prices. Although global crude oil futures closed higher on Tuesday, according to average weekly prices on ChemOrbis Price Wizard, prices remain at the lowest levels seen since late February 2009 following a sharp decrease at the beginning of the week.

On Monday, NYMEX October oil futures had settled down $2.21/barrel at $38.24/barrel, hitting the lowest level seen since February 2009 while Brent oil futures also declined by $2.70/barrel, or 6.1%, to settle at $42.69/barrel, breaking below $43/barrel for the first time since March 2009.

Spot naphtha prices in Asia declined around $55/ton week over week to be currently reported at around $390/ton CFR Japan. Weekly average prices on ChemOrbis Price Wizard showed that Asian spot naphtha prices posted the lowest levels seen since mid- February 2009.

In Europe, meanwhile, naphtha prices are currently reported at around $350/ton CIF ARA, down about $60/ton from a week earlier.
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