Naphtha prices hit a more than six-year low in Asian trade Tuesday as crude oil and equity markets fell amid global economic uncertainty, as per Platts.
The CFR Japan naphtha marker was assessed down US$10.75/mt day on day at US$389.625/mt Tuesday, the lowest in 78 months. It was last assessed lower on March 12, 2009, at US$387.625/mt.
Traders said the fall was due mainly to the decline in global crude oil prices and that fundamentals in the Asian naphtha market remained stable.
The volume of naphtha heading to Asia from the West was expected shrink to 1-1.5 mln mt in September from 1.8-1.9 mln mt in August as higher prices in the US lured away some cargoes. Demand for naphtha in Asia was stable as crackers in the region were running at close to maximum capacity amid good cracking margins, traders said.
27-Aug-15 
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