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The Naphthalene market finished October **** on a relatively slow, but dramatically negative, tone, with the markets feeling variably lower in most key global markets. The bearish tone, which isn**;t new following a lackluster market since January, has recently taken a turn for the worse due to obligatory seasonal reductions in supply and sustained weakness in end-use discretionary markets. Demand is still lower than supply even with feedstock supplies and production running consistently. Continuous declines in buying interest and trading activity have further compounded the sentiment as soft consumption continues to weigh Naphthalene values down across the globe even with a favorable supply balance.
In U.S., Naphthalene Refined CFR Houston ended right around USD ****/MT by the end of October, down from levels by -*.** closer to USD ****/MT at mid-month. Traders identified continued softness in phthalic anhydride and PVC plasticiser operations and noted...
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