Asia benzene up $15-20/tonne on US and EU bull run

28 July 2009 05:03  [Source: ICIS news]

SINGAPORE (ICIS news)--Asia’s benzene values were poised for an upturn with prices firming $15-20/tonne on Tuesday morning, supported by recent hikes in US and European benzene markets, said traders and a producer.

Spot prices were assessed at $865-880/tonne FOB (free on board) Korea, $15-20/tonne higher compared with Monday’s close, according to global chemical market intelligence service ICIS pricing.

Bids were heard on Tuesday morning at $865/tonne FOB Korea, $20/tonne higher than Monday’s deal.

A spike in European benzene values seen overnight Monday to $1,095-1,105/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp), along with the increases seen in US prices until last Friday, were the key factors behind the increases, said traders.

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By: Mahua Chakravarty
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