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Global benzene prices to rise higher in 2013
04
Jan '13
Benzene prices are expected to remain bullish in Europe and rise higher in the US, say market sources. 
 
Benzene prices were hovering around US$ 1340-1370/ton FOB Rotterdam in the early days of November, 2012 in the European market. Prices have largely maintained an upward trend since then and witnessed 1% to 3% w-o-w hike in the subsequent weeks. 
 
Prices were assessed in the range of US$ 1530-1540/ton in the week ending December 29. Benzene prices are expected to continue the bullish trend in Europe this year according to the market players. 
 
Lower yield of Benzene was reported from plants in 2012, which contributed towards higher prices of Benzene in the market. Higher upstream product prices and strong downstream demand also supported the price rise.
 
Market experts predict that Benzene prices may remain high this year in the US as well due to tight supply conditions. Prices witnessed a 4% increase in the US market in December 2012 as compared to its previous month. Prices were assessed in the range of 510-515 (cents/gallon) FOB US last week.
 
Market sources revealed that many plants for the manufacture of downstream products of Benzene are expected to start up this year in China which may cause price increase in the Benzene market in the region. 
 
Benzene prices showed an upward trend since July 2012 in the Korean market where it saw a 3% to 9% m-o-m hike. Prices were assessed in the range of US$ 1450-1485 FOB Korea in the previous week.
 
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Fibre2fashion News Desk - India

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