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However, in the second half of the quarter, supply considerably eased as crude oil futures tumbled to astonishing lows amid narrowed fuel demand under consistent increment in coronavirus cases across the globe.
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Naphtha Prices Overview E-mail : info@chemanalyst.com | website : www.chemanalyst.com/ Market Overview Quarterly Update on Global Naphtha Market Asia Supply remained tight in the third quarter of 2020 against the backdrop of lower deep-sea arbitrage from west followed by several refinery turnarounds in the US due to spate of seasonal Hurricanes. Get more info : https://www.chemanalyst.com/Pricing-data/naphtha-43
Naphtha Prices Overview E-mail : info@chemanalyst.com | website : www.chemanalyst.com/ However, in the second half of the quarter, supply considerably eased as crude oil futures tumbled to astonishing lows amid narrowed fuel demand under consistent increment in coronavirus cases across the globe . Demand for light Naphtha utilized in manufacturing of olefins remained stable to firm while that of heavy Naphtha crippled on the back of volatility in the aromatics sector. Demand pattern was articulated when spot cargoes for light Naphtha achieved premium whereas heavy grade Naphtha received appreciable discounts. Naphtha’s crack spread in Asia traced a downward trajectory from USD 62.73 per tonne to USD 56.60 per tonne in the beginning of August. Europe Naphtha values firmed in the second half of the third quarter supported by tight supply from western countries on the backdrop of logistics disruption due to US hurricanes. In addition, cuts in the operating rates balanced the supply fundamentals and aided is maintaining the inventory levels. Prices of Naphtha in Europe averaged around USD 951 per tonne, with a rise of 1 per cent since July. Limited imports from the US provided room for European manufacturers to extend their profit intakes amidst widened demand and supply gap. However, supple inflows of cargoes from Russia and reduced arbitrage from Asia marginally pressurized the market fundamentals in late September. North America In contrast to the market fundamentals of Naphtha across the globe, saturated US market has made light Naphtha dive to its lowest level in the first week of September from June. As the force measure caused by Hurricane Laura negatively affected the export margins of various oil refiners, market players eyed to make up for their loss by catering to the large export demand in late September. However, few players showed resistance towards voyages to Asia due to the volatile freight charges in the region.
Naphtha Prices Overview E-mail : info@chemanalyst.com | website : www.chemanalyst.com/ How we can help ChemAnalyst addresses the key problematic areas and risks associated with chemical and petrochemical business globally and enables the decision-maker to make smart choices. It identifies and analyses factors such as geopolitical risks, environmental risks, raw material availability, supply chain functionality, disruption in technology and so on. It targets market volatility and ensures clients navigate through challenges and pitfalls in an efficient and agile manner. Timeliness and accuracy of data has been the core competency of Chemanalyst, benefitting domestic as well as global industry in tuning in to the real-time data points to execute multi-billion-dollar projects globally. Methodology ChemAnalyst gathers information through primary research surveys conducted with various Naphtha manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market. Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Naphtha market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility. Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.
Naphtha Prices Overview E-mail : info@chemanalyst.com | website : www.chemanalyst.com/ Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Naphtha market. Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on daily, weekly, monthly and yearly basis. Finally, region-specific markets for Naphtha are analyzed and region-wise demand pattern is tracked. About Naphtha is a liquid hydrocarbon mixture, mainly utilized for gasoline blending, reforming and petrochemical cracking. Naphtha can be categorized as Light Paraffin Naphtha and Heavy Naphtha, depending upon the production method. Since Light Naphtha is rich in olefins and boils at a comparatively lower temperature than Heavy Naphtha, it is widely utilized to manufacture various olefins/polyolefins like Propylene, Ethylene and others. Whereas Heavy Naphtha, being rich in aromatic and naphthenic content, is efficiently utilized as a feedstock for compounds such as Benzene, Toluene and others. It is also used to increase the octane number in gasoline reforming. Naphtha solvent of ideal properties is widely preferred for polymers, paint and coating and printing applications. Naphtha is primarily produced by crude refining in a crude distillation unit along with four other compounds namely light and heavy gas oil, kerosene and atmospheric residue. Development of advanced technology has enabled the production of Naphtha from gas to gas liquid processing and condensate splitting.
