IHS Chemical Week

Asia Naphtha Prices Up, But For How Long?

3:01 PM MDT | July 28, 2010

Naphtha prices this week surged up tp USD 660.0-662.0 from USD 627.0-629.0 last week. The market has been impacted by the shut-down of a 700,000 m.t./year cracker at Mailiao, Taiwan. The plant is expected to restart in two to three months. Additionally, a fire broke out last week Formosa's Mailiao refinery, causing the shut-down of that 540,00 barrels/day facility. This is expected to impact the market in the coming weeks. However, abundant supplies from the Middle East are expected to result in decling prices over the next...

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