Benzene market shows firm trend

December 11, 2008 - Global

Price indications in the Asian market showed a firm trend during today’s trading session on the back of a overnight rebound in values in the US. Buy-sell indications for January shipments were quoted at US $295-$320 per ton FOB, Korea, up around $10-$15 per ton from yesterday.

On Tuesday, prices during the afternoon session was offered at $305-$310 per ton FOB, Korea, for January loading, that met a bid at $277 per ton FOB Korea.

In the European region, deals for spot benzene on Wednesday was quoted at $215 per ton CIF ARA (Amsterdam, Rotterdam, Antwerp), and $220 per ton CIF ARA for December. For January contract offer prices stood at $265 per ton CIF ARA and $275 per ton CIF ARA. December deals were struck at $230-250 per ton CIF ARA, while January was higher at $265-275 per ton CIF ARA.

In the US market, December offers rose for a second day to 75-82 cents per gallon DDP (delivered, duty paid) HTC (Houston-Texas City), compared with 72-77 cents per gallon earlier in the week, after a contract was inked at 78 cents per gallon on Tuesday.