Naphtha below US300

摘要

Pyschological barrier breached,but traders believe the feedstock will stay firm.Meanwhile,propylene is in a speculative muddle.The MoPJ fell felow US300/tonne cfr Japan for the first time in more than a fortnight in midweek trading last week.However,the opinion of several traders was that the decline to US294-296/tonne cfr Japan was likely to be temporary due to very strong petrochemical demand.