NewsFlashEurope benzene rises $9/t to record

21 May 2008 12:36  [Source: ICIS news]

LONDON (ICIS news)--Spot benzene traded at a new record high in Europe on Wednesday, up $9/tonne (€5.7/tonne) on the record set the previous week on fresh crude highs and renewed buying interest, market players said.

 

An inter-trade deal was confirmed for June loading at $1,280/tonne CIF (cost, insurance and freight) ARA (Amsterdam, Rotterdam, Antwerp), up from the previous record of $1,271/tonne recorded on Friday.

 

Players attributed the fresh high to a new record on crude, at $128.53/bbl on Brent, and renewed demand alongside similarly spiking styrene values.

 

A May styrene deal was confirmed at the same time at $1,575/tonne FOB Rotterdam, up $25/tonne on a two-year high set the previous day and $5/tonne short of the record high set in august 2006.

  

($1 = €0.64)

By: Peter Salisbury
+44 20 8652 3214

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