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Benzene markets inch up for fourth consecutive day
09
Apr '09
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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