On September 15, the CFR Japan naphtha price stood at $956.37/tonne, while the ethylene-naphtha processing spread was -$56.38/tonne—an increase of $26.00/tonne compared to the previous period.

With the CFR Japan naphtha price at $956.37/tonne, the ethylene-naphtha processing spread remains negative. Downstream ethylene plants are operating at a loss, which dampens the willingness to run facilities and reduces demand for naphtha procurement, exerting a generally bearish influence on naphtha prices.

Although the ethylene-naphtha processing spread remains in negative territory, it narrowed by $26/tonne; this reduction in the extent of losses provides slight bullish support for ethylene prices.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.