Asia naphtha falls below $1,000/tonne on weak petrochemical demand

13 September 2012 10:42  [Source: ICIS news]

SINGAPORE (ICIS)--Asia’s open-spec naphtha prices declined to a two-week low at under $1,000/tonne/year on Thursday, undermined by concerns over weakening petrochemical demand, traders said.

The second-half October naphtha contract lost $18.50/tonne (€14.43/tonne) from Wednesday to $995-997/tonne CFR Japan, according to ICIS data, despite stable Brent crude futures, which is trading at above $116/bbl.

Naphtha had slid to the weakest levels since 31 August, ICIS data showed.

“Naphtha came off hard today,” said a trader.

In the physical trading, Glencore sold an open-spec naphtha cargo to Marubeni at $990/tonne for delivery in the first half of November, traders said.

($1 = €0.78)


By: Felicia Loo



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