Naphtha price trends have been on a downhill as inventories of the raw material were building up along with a dip in crude oil prices.
On July 15, naphtha fell to US $619 per ton (CIF NWE) from $633 per ton (CIF NWE) quoted on the previous day.
According to a report from JBC Energy, naphtha is currently the most pressured product in the market and there might be a further fall in prices, the report quotes.
Lack of exports and imports from Russia has led to naphtha inventories building up to 36,000 tons, week-on-week from 21,000 tons last week, averred an analyst.
Fibre2fashion News Desk - India
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