Naphtha prices move above $500/ton threshold in Asia
Spot naphtha prices in Asia increased around $75/ton week over week to be currently quoted at around $515/ton CFR Japan while the prices have climbed approximately $50/ton compared with the beginning of the new year.
Meanwhile, spot naphtha prices are also approaching the $500/ton threshold in Europe. The increase in the European naphtha market was attributed to supply issues in the Mediterranean and firmer Asian markets.
Spot naphtha prices in Europe rose approximately $80/ton week over week to be currently quoted at around $490-495/ton on a CIF ARA basis. Naphtha prices in Europe have increased by $75/ton compared with the beginning of January.
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