17 May 2010 11:54 [Source: ICIS news]
SINGAPORE (ICIS news)--Asia’s benzene and toluene prices dropped sharply by $40-60/tonne (€32-49/tonne) during Monday’s trading due to falling crude values and weak toluene market fundamentals, traders said.
Benzene prices took the sharpest hit and were hovering at about $880-890/tonne FOB (free on board) ?xml:namespace>
Prices touched a two-month low with offers for July loading cargoes dipping to $905-910/tonne FOB Korea that met bids at $880-885/tonne FOB Korea.
The continuing fall in crude values, which reached $70/bbl during Monday’s trading, and losses in the
Toluene prices in the region also fell sharply below $800/tonne FOB Korea on Monday, a six-month low as sentiment plunged amid losses in crude values and prevailing weak demand and high supply.
Prices were notionally pegged at $785-800/tonne FOB
Traders said the market had ample supply and demand was poor due to the record-high stock levels in
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