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Asian benzene prices record first decline of month

14
May '09
Wednesday Benzene prices declined for the first time in Asia in this month as market supply increased. FOB Korea prices closed at US $660.00-661.00 per ton, $10 lower than the previous day, CFR Southeast Asia fell $10 in closing at $652.00-653.00 per ton.

At the same time, weak demand from Asia led to downward price adjustments in Europe and the United States. US Gulf FOB prices for June and July shipment fell 1 cent to 240 and 238 cents per gallon, respectively.

CIF ARA price in Europe reduced $12.50 to $755.50 per ton. The recent rise in prices of Benzene in the West has been mainly due to buyers seeking cargoes for July deliveries in Asian markets.

Currently benzene spread in Europe is $95 per ton. On Wednesday, Mitsui made a deal with GS Caltex at US $660 per ton for shipment in the first half of June and last week
Total Petrochemicals bought at least 2 cargoes of pure benzene in Asian market.

At the same time, Wednesday morning, YNCC1 cracker closed as a result of its compressor failure, but aromatic units were not affected. A Philippines petrochemical company launched a new petrochemical aromatics plant last week.

At the same time, price spread between naphtha and pure benzene expanded. On Tuesday, the spread between naphtha and pure benzene was $196.25 per ton; usually spread between the two is US $150-175 per ton.

Fibre2fashion News Desk - China


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