Print

It is reported that on Tuesday (26 Jan 2016) naphtha value has plunged more than $30/t to reach multi-year low at $293/t CFR Japan term. This is believed to be a result of abundant supply condition while demand in Asia has weakened slightly, industries sources said.

Market is expecting to see better condition in the near term citing the unfavorable arbitrage opportunity would encourage Western traders to sell the cargoes in Europe than to move to Asia. This might cause the supply in the region to be tightened.

Falling naphtha prices has exerted considerable pressure on ethylene monomer, which has fallen about $140/t since beginning of Jan 2016 to reach $945/t CFR Southeast Asia on 26 Jan.

Kindly visit www.commoplast.com for detailed daily prices in China and Southeast Asia market, or contact us at commoplastinfo@gmail.com for assistance.