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Asian Naphtha continues to fall
16
Oct '08
Falling crude is putting its effects on the Naphtha market as well. On October 15, Naphtha dipped below the US $500 per mt mark. Asian open spec naphtha bid prices on Wednesday for the first half of December stood at $500.50 per mt CFR Far East levels while the offer price was at $502.50 per mt CFR Far East mark.

Contract prices for the second half of December stood at $516.50 per mt CFR Far East levels while offer price was at $518.50 per mt CFR Far East mark. Prices for the first half of January were assessed at $531.50 per mt CFR Far East levels while the asking rate was stood at $533.50 per mt CFR Far East levels.

Today, contracts for the first half of December was inked at $466.50 per mt levels showing a drop by about $45 per ton. While deals for the second half of December moved downward at $482.50 per mt levels, a fall by about $35 per mt. Deals for the first half of January were pegged at $497.50 per mt levels, demonstrating plunge by $35 per mt.

Fibre2fashion News Desk - India

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