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.
Commodities
China slump pushes Asian naphtha prices near 2.5-year low
Weak demand for key plastics material leads to supply glut
A refining and petrochemical complex is seen in Dalian, Liaoning province. Lower demand for plastics is creating supply gut of naphtha. © Reuters
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