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Asian naphtha price drop further
13
Mar '08
Available reports show, Asian naphtha price dropped back from its historical highs on March 10, due to weak market.

Maintenance of naphtha cracker units and output reduction by ethylene manufacturers brought pressures on naphtha market.

According to a Singapore trader, naphtha prices have been very high that the profits of ethylene manufacturers squeezed further. Several ethylene manufacturers, including PCS, CPC and SK Energy Company, have reduced their output of cracking units.

Naphtha price of Japanese open specifications for the second half of April contract fell US $1 from its record high of $914.50 to $915.50 per ton. Price gap between the second half of April and the first half of May narrowed from $1 to $2 per ton. Brent / naphtha spread almost fell to $134.90 per ton, down to the lowest level in four months.

Fibre2fashion News Desk - China

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