TOKYO -- The price of naphtha is plummeting in Asia, nearing a two-and-a-half-year low as China's economic downturn dampens demand, resulting in a serious oversupply.
The hydrocarbon's price on the Asian spot market was around $543 per tonne as of Monday. After falling to around $497 on June 28, the lowest level since January 2021, naphtha spot prices have remained in the low-$500 range.
