No naphtha imports to Asia makers likely from Europe for second month

Amid ample supplies and weak demand in Japan, Asian petrochemical companies may import little or no naphtha from Europe for the second month in August, as per Bloomberg. Europe to Asia naphtha cargoes totaled 300,000 tons in June and 500,000 tons in May as Asian demand growth slows considerably amid new refining capacity in China and ethane-based petrochemical capacity in the Middle East. As China increases domestic production, demand in Japan dropped for the fifth consecutive month in June, while imports dropped to the lowest level in two months, data from the Ministry of Economy, Trade and Industry showed. China’s net imports of ethylene fell 21% in June, according to data from the Customs department.
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