Japan's Nippon Oil ups March benzene ACP nomination by $40/t

25 February 2010 10:56  [Source: ICIS news]

SINGAPORE (ICIS news)--Japanese producer Nippon Oil has nominated a higher Asian contract price for March cargoes of benzene at $990/tonne (€733/tonne), up $40/tonne from February’s settlement price, said a company source on Thursday.

The higher price on a CFR (cost and freight) Asia basis was in line with spikes in spot market values of the material, the source said.

Settlement for the March contract was expected on Friday.

Benzene spot values in Asia were hovering at $915-930/tonne FOB (free on board) Korea on Thursday, according to global chemical market intelligence service ICIS pricing.

($1 = €0.74)

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By: Mahua Chakravarty
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