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Naphtha trends skid in last fortnight of April
05
May '12
Naphtha price went down in the last fortnight of April mainly due to poor support from energy market.

In the early part of the fortnight, Naphtha prices underwent a drastic slide. In global naphtha market, selling price fell mainly due to weak cues from financial sectors.

According to market speculators, profit margins for goods exported from Europe to USA were quite thin, so fresh cargoes were diverted to Asian ports.

By the end of the reporting fortnight, Naphtha price remained firm in global markets.

Fibre2fashion News Desk - India

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