13 November 2008 17:50 [Source: ICIS news]
LONDON (ICIS news)--Spot benzene traded at a 65-month low in Europe on Thursday with the market seen as oversupplied into the end of the year despite a spate of cracker outages.
A November trade was reported at $315/tonne (€252/tonne) CIF (cost, insurance and freight) ARA (?xml:namespace>
According to global chemical market intelligence service ICIS pricing, this was the lowest since the week ended 9 May 2003, when trading was seen within a $290-310/tonne CIF ARA range.
The drop was seen as being predicated by a lack of demand, fears over downstream production, and ongoing falls in the energy complex.
Cracker rates were thought to be low across
($1 = €0.80)
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