Naphtha spot prices in Asia fell to a 21month low on Friday to below US$700/ton (€560/ton), tracking the losses of global energy values and perpetually bearish sentiment, as per ICIS. The bearish senttiment was partly a result of the outage at Formosa Petrochemical Corp (FPCC)’s Mailiao complex and also abundant spot offers from the Middle East and Indian refiners, they added.
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Tuesday, June 26, 2012
Asian naphtha ends previous week below US$700 levels
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