Nippon Oil settles Dec benzene ACP $60/t lower

01 December 2008 07:42  [Source: ICIS news]

SINGAPORE (ICIS news)--Japanese benzene producer Nippon Oil Corp settled its December Asian Contract Price (ACP) $60/tonne (€47/tonne) lower than the previous month’s numbers, a company source said on Monday. 


The settlement at $310/tonne CFR (cost and freight) Asia was done Friday night, he said.


The 16.2% drop in December prices was due to poor demand from downstream segments in the region and the weak trend seen in the US and European benzene markets, the source said.


Nippon Oil’s customers had also requested a lower final price than Asian spot values, which they felt were high compared with other regions, the source said.


Benzene spot prices in Asia were about $350-365/tonne FOB (free on board) Korea on Monday, according to global chemical market intelligence service ICIS pricing.


($1 = €0.79)


For more information on aromatics, visit ICIS chemical intelligence 

Please visit the complete ICIS plants and projects database

To discuss issues facing the chemical industry go to ICIS connect

By: Mahua Chakravarty
+65 6780 4359

AddThis Social Bookmark Button

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