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Spot naphtha prices hit multi-year lows in Asia, Europe

by ChemOrbis Editorial Team -
  • 12/01/2016 (18:05)
Spot naphtha prices fell to record lows in both Asia and Europe at the beginning of this week, weighed down by crude oil prices, which settled below the $32/barrel threshold for the first time in over a decade.

In Asia, spot naphtha prices on a CFR Japan basis are quoted $345/ton on January 12, suggesting a drop of around $15/ton on a daily basis following the plunge in crude oil prices. When compared to the beginning of the month, spot prices have declined by around 15% on average.

Spot naphtha prices in Europe have also hit their lowest level since early 2009 when prices averaged $300/ton on a CIF NWE basis. Spot prices have dropped by around $60-70/ton over the past week to reach $320/ton on January 11.
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