25 May 2010 12:35 [Source: ICIS news]
SINGAPORE (ICIS news)—Asia’s benzene values crashed by $50/tonne to a fresh seven-month low on Tuesday on the back of plunging crude values and an oversupply in the region, said traders.
Prices dipped to $770-780/tonne FOB (free on board) ?xml:namespace>
Two deals were heard at $775-780/tonne FOB
Traders said the continuing fall in crude futures that hit $68/bbl on Tuesday afternoon along with a persistent benzene oversupply in the region were the two key drivers behind today’s price collapse.
Supply was high in the region also due to some distressed cargoes being offered by
Supply of benzene, along with other aromatics like toluene and styrene monomer (SM), was high in
Toluene prices in Asia also fell by $35-45/tonne on Tuesday to a fresh eight-month low of $680-685/tonne FOB
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