Asia naphtha falls $30/tonne to near one-month low

18 September 2012 10:30  [Source: ICIS news]

SINGAPORE (ICIS)--Asia’s open-spec naphtha prices plunged to the lowest levels in nearly a month on Tuesday, following a physical trade, traders said.

Naphtha prices for the first half of November fell by $30/tonne (€23/tonne) from Monday to close at $961-963/tonne CFR (cost & freight) Japan on Tuesday, the weakest since 22 August, ICIS data showed.

In physical trading, Glencore sold a second-half November cargo to Vitol at $956/tonne CFR Japan.

The naphtha crack spread versus November Brent crude futures lost 6.8% from Monday to $108.50/tonne, the lowest since 23 August, according to ICIS data.

($1 = €0.76)


By: Felicia Loo



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