Asia naphtha crosses $1,000/tonne mark on crude, tight supply

31 January 2013 02:05  [Source: ICIS news]

SINGAPORE (ICIS)--Asia’s open-spec naphtha prices surpassed the $1,000/tonne (€740/tonne) mark on Thursday morning, triggered by rising crude futures and tightening supply of the petrochemical feedstock.

The open-spec first-half March contract rose to $1,001.50-1,004.50/tonne CFR (cost & freight) Japan, up by $4.50-5.50/tonne from Wednesday, according to ICIS data.

Prices hit the highest levels since 14 September 2012 when naphtha stood at $1,003-1,005/tonne CFR Japan, it further indicated.

($1 = €0.74)

By: Felicia Loo

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