On February 9, the CFR Japan price of naphtha was $597.88 per ton, while the ethylene-naphtha processing spread was -$157.88 per ton, a month-on-month increase of $4.75 per ton. PriceSeek's analysis of naphtha gives a long-short rating of 0.5. The CFR Japan price of naphtha rose to $597.88 per ton, and the ethylene-naphtha processing spread increased by $4.75 per ton month-on-month to -$157.88 per ton. This indicates that the cost of naphtha as a raw material has increased, but the improvement in the spread suggests that downstream demand may be strengthening, supporting spot prices and providing a slight positive impact.

For ethylene, the long-short rating is 1. The month-on-month increase of $4.75 per ton in the ethylene-naphtha processing spread reflects an improvement in ethylene production profitability and enhanced economic viability, which generally supports spot prices for ethylene and may stimulate production activities.