Naphtha cracks in Asia drop to 34 month lows

As a reflection of the persistently weak market, naphtha prices in Asia fell to 1-1/2 week lows, while cracks hovered at a 34 month low with physical time spreads in discount, as per Reuters.
Honam PPetrochemical purchased around 50,000 tons of open-spec naphtha for H2-December arrival at Daesan at a discount of about US$3/ton to Japan quotes on a cost-and-freight (C&F) basis, making this the lowest price paid in South Korea in about four months.

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