Naphtha prices in China stabilized amidst reduced demand and lower refinery output despite maintenance turnarounds and rebound in crude prices. In contrast, prices in Japan and South Korea rose by x.xx due to currency depreciation, increased propylene demand, and optimistic market outlook, driven by high bidding activities and inventory restocking.
The prices of Naphtha in the Chinese market have stabilized following a decline in the previous week, reflecting a steadied demand. This comes as a result of decreased manufacturing activities due to a drop in domestic demand for Naphtha. Data from the National Bureau of Statistics (NBS) indicates that China&#xx;s crude oil refinery output fell in May. This decline was primarily attributed to planned and unplanned maintenance outages, along with reduced processing rates driven by higher crude oil prices and lower profit margins. Chinese refineries processed xx.x million tonnes during this period. Weak consumption in China has...
