Naphtha prices move above $400/ton threshold in Europe
Spot naphtha prices in Europe rose about $20/ton on the week to be currently reported at around $405/ton CIF NWE, hitting the highest levels seen since early December 2015, according to weekly average prices on ChemOrbis Price Wizard. Meanwhile, spot naphtha prices in Asia increased $5-10/ton week over week to be currently reported at around $410-415/ton CFR Japan. According to weekly average prices, current naphtha prices in Asia represent the highest levels seen since early January 2016.
Recently, crude oil prices have moved above the $45/barrel threshold. On Thursday, NYMEX June crude oil futures were up 70 cents to settle at $46.03/barrel while ICE June Brent crude rose 96 cents to settle at $48.14/barrel.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- European PVC defies global uptrend
- Turkey’s PP, PE markets at a standstill amid lingering downturn
- PVC downturn persists in China’s local market despite bullish imports
- China's PP market at almost 2-year low; H2 outlook bearish
- Asian spot ethylene market plunges to decade low
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East