UpdateAsia benzene, toluene fall $50/tonne

02 September 2008 11:39  [Source: ICIS news]

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SINGAPORE (ICIS news)--Asia’s benzene and toluene prices remained on a downtrend on Tuesday afternoon, posting a hefty $50/tonne loss from the previous day on the back of a $10/bbl drop in crude values, said traders.

 

Toluene prices that had dropped by $35/tonne in the morning fell further at the day’s close to $1,030-1,040/tonne FOB (free on board) Korea. A deal was heard at $1,040/tonne FOB Korea for any October loading.

 

Offers for October parcels heard earlier at $1,070-1,080/tonne FOB Korea fell to $1,055-1,060/tonne FOB Korea. Bids heard in the morning at $1,020/tonne FOB Korea disappeared late afternoon.

 

In the benzene market, prices fell in tandem to $1,125-1,135/tonne FOB Korea.

 

Offers for October loading cargoes heard until mid-day at $1,160-1,165/tonne FOB Korea slipped another $20-22/tonne to $1,138-1,145/tonne FOB Korea at the close of trades.

 

Bids were heard at $1,130-1,145/tonne FOB Korea that slipped by $10-20/tonne to $1,120-1,125/tonne FOB Korea for October shipments.

 

A $30-40/tonne drop in Europe benzene values had also affected sentiment in the benzene market, said a benzene trader and a producer.

 

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By: Mahua Chakravarty
+65 6780 4359

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