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Benzene arbitrage window between Asia & US may close
15 Mar '12
1 min read
In the Asian markets, intraday transaction of May benzene cargoes was in the range of US $1187-1191 / ton (FOB Korea).
Arbitrage profit between Asia and the US fell to below $3 / ton, suggesting that arbitrage window may close. European benzene price edged up $2 / ton and talks for March cargoes were in the range of $1195-1215 / ton (CIF ARA).
Talks for April goods were in the range of $1210-1225 / ton, traders showed stronger interest in making shipment, but downstream buyers lacked corresponding interest.
The US market was acceptable, but arbitrage interest was limited. US benzene price held steady and March goods stabilized at 419 cents / gal (FOB USG) and April goods were priced at 419 cents / gallon (FOB USG).
Arbitrage profit between Asia and the US fell to below $3 / ton, suggesting that arbitrage window may close. European benzene price edged up $2 / ton and talks for March cargoes were in the range of $1195-1215 / ton (CIF ARA).
Talks for April goods were in the range of $1210-1225 / ton, traders showed stronger interest in making shipment, but downstream buyers lacked corresponding interest.
The US market was acceptable, but arbitrage interest was limited. US benzene price held steady and March goods stabilized at 419 cents / gal (FOB USG) and April goods were priced at 419 cents / gallon (FOB USG).
Fibre2fashion News Desk - China
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