The US Benzene prices have surged due to support from China's demand for styrene. Asian markets have moved higher for the fourth consecutive day. FOB Korea closed at US $653-654 per ton on Wednesday and Southeast Asia closed at $644.50-645.50 per ton, both up $16 per ton.
US Gulf FOB pure benzene for May and June shipment rose 17 cents, to $202 and 203 cents per gallon respectively which in turn impacted Korea FOB prices, which inched up to $700 per ton for June and $705 per ton for July shipments.
In early morning trades, Benzene for May and June deliveries, ranged between $640 and $650 per ton while at noon BIT cracked a deal with MBK at $658 per ton, but cancelled later due to falling oil prices.
In the trading area, Interchem sold to GS Caltex a cargo for May shipment at $655 per ton and Shell offered at $660 per ton for the same shipment. It was reported that that the Interchem-GS Caltex was cancelled.
Fibre2fashion News Desk - China
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