Naphtha prices fall below $400/ton threshold in Europe
Spot naphtha prices in Europe declined approximately $25-30/ton week over week to be currently quoted at around $395-400/ton on a CIF ARA basis.
Sources reported that in addition to sufficient supply levels in the region, a fire at Shell’s Moerdijk petrochemical site on November 11 is also weighing on market sentiment. The Moerdijk site is able to produce 900,000 tons/year of ethylene, 450,000 tons/year of propylene, 550,000 tons/year of benzene and 450,000 tons/year of styrene.
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