Prices showed similar trend in US as well and were witnessed in the range of 470-495 (cents/gallon) FOB US, lower by similar percentages as in Europe. This is mainly due to poor downstream demand trends in the markets.
Market experts predicted that Benzene prices may continue to fall in Asia in Q1 of the current year due to weak US and European markets.
Prices declined by 3.4% w-o-w in Korea in the reporting week and were assessed in the range of US$ 1395-1480/ton FOB Korea. Prices went down by similar percentages in Japan and India markets as well. Downstream product prices were seen lower, which supported the price decline.
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Fibre2fashion News Desk - India
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