Chemical Prices in Asia Firm

Naphtha prices rose from USD 795.0-797.0to USD 818.0-820.0. on strong demand driven by derivative products in Asia. Prices are likely to trend upward as high volumes of about 600,000- 700,000 tons of naphtha is on its way from Europe. Formosa is expected to initiate its deliveries in the January 2011 and not in Dec 2010 as earlier planned. The demand for coming months is also expected to be strong as crackers are running at high operating rates. Ethylene price levels strengthened this week to USD 1060-1070. Supplies from Middle East fell and due to this the...

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