Naphtha Prices Fluctuate in Late June 2025 as China Ignites Demand and Saudi Feels the Burn

In late June xxxx, there are significant shifts occurring in the global Naphtha markets, with China ramping up the quantity of Naphtha imports and Saudi Arabia adjusting its price in response to declining refining margins and fears of oversupply.

 In June, China almost doubled its Naphtha import quotas for xxxx and issued the second batch from xx million metric tons to total quotas of xx million tons, and the Ministry of Commerce allocated quotas to ten major chemical companies, including Sinopec, CNOOC and Huizhou cracker of ExxonMobil.  The increase indicates Beijing&#xx;s hopes of increasing petrochemical demand with a return to Naphtha as LPG and ethane are being less favored due to tariffs and disruptions of supply from the U.S.

According to trade sources, the pricing appeal of propane began to rapidly degrade, following a tariff spike due...