NAPHTHA

Naphtha prices have dropped to US$715/MT in Asia in the week of October 8, 2007. This price dip has been caused by weakening crude oil market and a supply glut in Asia mainly on expectation of increased exports from India into Asia. Traders expect India to continue exporting an average of 700,000-800,000 tons of naphtha a month into Asia, up from less than 500,000 tons a month between January and March

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