Global financial meltdown has given the worst possible jolt to the world economy. Present condition has brought down the demand for the down stream products thus bringing down the prices for the same.
Asian naphtha prices eased amid global energy demand worries. For the first half of February shipments open specification naphtha contract were quoted at US $284.50-$287.50 per ton CFR Japan, showcasing a fall of nearly $24 to $26 per ton.
In the European region, spot rates for cargoes were quoted with in the range of $269 to $279 per ton CIF (cost, insurance and freight) NWE (northwest Europe) range, down $19 per ton from the buyer side earlier in the day. January deals were pegged at $269-$271 per ton CIF NWE.
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Fibre2fashion News Desk - China
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