Asia benzene, toluene up $10-15/tonne on crude

28 April 2008 05:27  [Source: ICIS news]

SINGAPORE (ICIS news)--Prices of benzene and toluene in Asia were up $10-15/tonne on Monday morning on record high crude values at $119/bbl on Monday, said traders and brokers.

Benzene was up by $15/tonne to $1,140-1,150/tonne FOB (free on board) Korea, nearing record high levels at $1,155-1,170/tonne FOB Korea, last seen in March 2005.

An offer heard at $1,150/tonne FOB Korea was countered by bids at $1,139/tonne FOB Korea for big berth June loading.

Benzene prices in Asia were also supported by a firm US benzene market seen late on Friday, said a Singapore-based trader.

Overnight on Thursday, spot May benzene was assessed at $3.86-3.88/gal FOB HTC (Houston-Texas City), and June benzene was at $3.88-3.90/gal FOB HTC, up from last Thursday's level.

Toluene in Asia was at a fresh record high level with increases of $10-15/tonne at $1,075-1,090/tonne FOB Korea. Bids cited at $1,075-1,078/tonne FOB Korea for any June loading cargoes were met with offers at $1,085-1,090/tonne FOB Korea.

Prices were expected to closely track the trend in crude markets in the coming weeks and could find further support from bullish crude and naphtha prices, said traders.

For more on benzene, toluene visit ICIS chemical intelligence

By: Mahua Chakravarty
+65 6780 4359

< previous article(ICIS Podcast: Chemical News Central 2 November 2009)

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.

Printer Friendly