15 July 2005 19:33 [Source: ICIS news]
HOUSTON (CNI)--July benzene spot prices in the ?xml:namespace>
On Monday this week benzene spot business was done as high as $3.05/gal DDP Houston/Texas City (HTC). By early today, the July bid/offer range was reported at $2.80-2.84/gal FOB USG based on spot business done Thursday at $2.82/gal DDP HTC.
Several traders said yesterday’s $2.21/bbl drop in the August Nymex crude oil contract price helped drive benzene spot prices down to the low-$2.80s/gal. Most participants in the benzene spot market argue that crude oil prices have minimal effect on benzene spot prices. But others contend that such a large drop in crude prices cannot be ignored with respect to benzene and other aromatic spot prices.
Soft buying sentiment also pressed benzene spot prices. One trader said benzene spot prices were declining because of “simple supply/demand fundamentals.” Persistently slow styrene monomer (SM) spot exports from the
Falling benzene spot prices in
Prompt benzene spot prices in Asia Pacific declined by a more moderate amount this week, from $900-925/tonne FOB
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