Asia naphtha crack spread falters on subdued demand; supply overhang

摘要

SINGAPORE (ICIS)--Asia naphtha market fundamentals are leaning towards a bearish undertone on the back of plentiful supply and less than upbeat petrochemical demand. Naphtha’s crack spread, a measure of the product’s refining margin, slumped to $53.20/tonne on 10 November, levels not seen in almost three months or since mid-August. The crack spread stood at $73.70/tonne a week earlier.