Naphtha Benchmark Prices Firm on Chinese Buying Interest

Asian Feedstock Squeeze

A significant rise in Asia's naphtha prices is being driven by the need to secure February cargoes. This indicates a potential rise in feedstock costs for benzene and other aromatics production in the region over the next quarter.

Global Refining Overhang

Despite the regional firmness, global naphtha supply remains ample due to high refinery utilization in the Middle East. The market balance remains delicate as crackers weigh naphtha costs against cheaper LPG alternatives.