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Lower crude drags naphtha prices down

23
Oct '08
Global economy is currently going through a worst possible phase. Present condition has brought down the demand for the down stream products thus bringing down the prices for the same.

Naphtha prices saw a sharp decline yesterday. Frist half of December price indications stood below the US $400/mt, with in the range of $392.50 to $393.50 per mt CFR Japan levels.

For the second half of December, naphtha prices stoop low to touch $408.50 per mt to $409.50 per mt CFR Japan levels. For the first half of January, prices were quoted at $423.50 to $424.50/mt CFR Japan levels.

Today, Asian naphtha prices opened on a softer note. First half December prices were pegged at $379.00-382.00 per ton CFR (cost and freight) Japan and for the second half of December at $395.00-398.00 per ton CFR Japan. For the first half of January prices stood with in the range of $410.00-$413.00 per ton CFR Japan.

Fibre2fashion News Desk - China


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