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Benzene prices dip in Asia & Europe
12
Aug '10
Being affected by the decline in prices of crude oil, the Asian benzene FOB Korea market fell by US $13.75 to $835-836 / ton and FOB Southeast Asia dipped by $14.25 to $821.75-822.75 / ton on Wednesday.

Negotiation level for October shipment ranged between US $840-865/ ton (FOB Korea) and offers for late September deliveries stood at $840-845 / ton, counteroffers fell to US $830 / ton.

One single cargo for shipment in October was traded at $853 / ton between GS Caltex and Interchem. About 22,000 tons cargoes were shipped to Europe and America in early August.

In industrial news, JX Nippon Oil & Energy Corp in Japan cut production of its PX plant by 20,000 tons in August.

European benzene prices too continued to decline on Wednesday, of which, FOB Rotterdam closed at $909-910 / ton, down $5 from the previous day and CIF ARA closed at $899.75-900.75 / ton, down $4.5.

Spot benzene prices in Northwestern Europe fell US $5/ ton, due to limited cash flows, spot market appeared flat. It is reported that offers for August and September ranged between $890.5-910.5 9 / ton (CIF ARA).

Fibre2fashion News Desk

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