Spot naphtha prices hit multi-year lows in Asia, Europe
by ChemOrbis Editorial Team - content@chemorbis.com
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.
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.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
