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