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European benzene trends hit new lows since October
14 Mar '13
1 min read
Benzene prices continued to maintain the downward trend in Europe last week.
“Global price meltdown and sluggish downstream demand were mainly responsible for the decline,” say experts.
Prices were assessed in the range of US$ 1320-1365/ton FOB Rotterdam in the week ending March 9, 2013. This is the lowest level since October last year, when prices had touched US$ 1290-1355/ton.
Prices were hovering around US$ 1520-1530/ton in the initial days of January this year, which went down by 6% and 2% in the consecutive weeks of that month. Prices declined further in the month of February and were assessed in the range of US$ 1405-1440/ton.
Contract prices for the month of March were settled at US$ 1380/ton FOB NWE lower by US$ 28/ton, as compared to the February contract prices due to weak market sentiments.
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