Tuesday, July 20, 2010

Asian naphtha prices likely to continue waning for the rest of 2010

In view of a fleet of spot shipments from the Middle East amid lacklustre demand in the region, Asian naphtha prices are likely to continue waning for the rest of the year, as per ICIS news. The demannd situation was compounded with reduced demand from Formosa Petrochemical due to a recent outage at that forced the company to take off line its 700,000 tpa No 1 cracker in Mailiao for about 2-3 months.

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