NewsFlashAsian naphtha hits new 13-month high at $721.00/tonne

18 November 2009 10:05  [Source: ICIS news]

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SINGAPORE (ICIS news)--Asian naphtha prices soared to a new 13-month high on Wednesday, with second-half January open-spec contract deals done at $721.00/tonne (€483/tonne) amid firmer crude, strong demand from the petrochemical sector and tighter supplies, market sources said.

Deals were also done at $718.50/tonne CFR (cost and freight) Japan later in open market trading, sources said.

At the close of open market trading, first-half January open-spec naphtha was assessed at $722.00-723.00/tonne CFR Japan, up around $20.00/tonne from the previous day. The second-half January open-spec contract was valued at $718.00-719.00/tonne CFR Japan, up $19/tonne CFR Japan.

($1 = €0.67)

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By: James Dennis
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