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High crude stirs up naphtha prices
21
Aug '08
On Wednesday, Spot prices of Naphtha for the Asian open specification was quoted at US $996 per ton, to be shipped during the first half of October; where as for the second half of October prices stood at $999 per ton, CFR, Far East.

Due to hike in crude prices, Asian naphtha prices showed firmness Today. Market sources informed that offers for the first half October were quoted at $1002.00-1003.00 per ton CFR Japan. On the other hand, for the second half of October, it stood at $1004.50-$1005.50 per ton CFR Japan.

The scenario is not much different in the European Market. Open specification spot cargoes were quoted in the range of $957-$967 per ton CIF Northwest Europe. The figures surged by $30 per ton. While cargoes that were traded for the month of September were pegged at $957-958/tonne CIF Northwest Europe.

Fibre2fashion News Desk - China

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