Prices of naphtha in Asia rose 56% in the year 2007, mainly propped by rising crude oil values and robust demand in the region. Despite capacity hikes by several regional players including South Korea's Samsung Total Petrochemicals Co., robust demand led to total imports in Asia at about 32 mln metric tons. Naphtha prices have been steadily rising through the year, ending the year at highs of almost US$880/MT.
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Wednesday, January 23, 2008
Formosa to switch to LPG, kerosene to counter high naphtha costs
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