01 July 2005 17:06 [Source: ICIS news]
HOUSTON (CNI)--July US benzene contract prices have been finalised in a rare two-tier settlement at $2.95 (Euro2.46)/gal and $3/gal, market participants said Friday.
Equistar settled July benzene contract prices with its customers at $2.95/gal and ExxonMobil settled with its customers at $3/gal, according to traders. The two July settlements are 65 cents/gal and 70 cents/gal higher respectively than the June settlement of $2.30/gal.
Neither Equistar nor ExxonMobil would provide public confirmation of their benzene contract prices with customers.
The July benzene contract price settlement is the first non-uniform ?xml:namespace>
The July benzene contract settlement comes after spot prices increased from a monthly low of $2.25-2.30/gal FOB USG during the first week in June to as high as $3-3.05 the last week in June. Traders said those late June spot prices heavily influenced July contract price settlements. Average spot prices for 23-30 June were assessed in a range of $2.93-2.97/gal FOB USG.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections