Naphtha prices steady as backwardation supply concerns persist
Asia’s naphtha price paused its rally, with downside limited by ongoing supply concerns in a backwardated structure. First-half November naphtha traded around $965/metric ton.
Asia's naphtha price paused its rally on Wednesday, but losses were still capped by ongoing supply concerns in a market structure that remained widely backwardated, traders said. First-half November naphtha traded at about $965 per metric ton.