US benzene producer seeks May increase

24 April 2008 16:45  [Source: ICIS news]

HOUSTON (ICIS news)--A major US benzene producer nominated a 35 cent/gal ($105/tonne or €66/tonne) increase for May contracts due to the recent jump in spot prices and the NYMEX energy complex,  market participants said on Thursday.

Benzene buyers and traders said LyondellBasell’s Equistar subsidiary nominated a benzene contract price of $4.10/gal FOB (free on board), which was up from the April contract settlement of $3.75/gal FOB.

Equistar was unavailable for comment.

Aromatics trade sources said they expected a second benzene contract nomination from ExxonMobil sometime during the week.

The May benzene contract was expected to settle during the week ending 2 May, sources said.

For more on benzene visit ICIS chemical intelligence

By: Brian Balboa
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