Asian benzene prices continued its slide due to decline in upstream energy values and global aromatics complex going weak in the US, as well as Europe.
Downstream Styrene Monomer (SM) further contributed to sluggishness omnipresent in Asian benzene markets.
Market remained subdued due to a sharp dip in US benzene values from 285 cents per gallon to 275 cents per gallon FOB levels for March, said a benzene trader.
In Europe, benzene prices dipped to $10 per metric ton, he added.
Majority buyers have stepped back avoiding spot markets, but some are bidding for a figure of $700 per metric ton FOB Korea levels.
Sellers believe fall in energy prices will not continue to a level lower than the present, leading to a buyer seller stalemate on prices, sources revealed.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
