In first week of September 2025, China's Naphtha market took on a slightly firmer tone in early September due to stable upstream costs and solid domestic supply chain with demand being cautious from ethylene-linked polymers and limited converters restocking based on the seasonal element. Geopolitical tensions on the supply side added some further tightening of crude processing across a few regions while some increased seaborne flows into Asia worked off some availability. The overall macro signals were mixed as recent weak manufacturing data helps slow down expectations for stronger rebound in petrochemical consumption.
