Asia benzene down $15-20/tonne on crude, overseas markets

27 October 2010 11:01  [Source: ICIS news]

SINGAPORE (ICIS)--Asia’s benchmark benzene prices declined $20-25/tonne (€14-18/tonne) on Wednesday because of weaker crude futures and a downturn in US and European benzene prices a day earlier, traders and producers said.

Asia’s benzene values fell $15-20/tonne on Wednesday to $940-950/tonne FOB (free on board) Korea, as offers for December loading slipped to $950/tonne. Bids were few and were heard at $930/tonne FOB Korea.

The fall in crude futures to $81/bbl was the key factor for the market, which has been tracking energy prices closely in the past few weeks.

Sentiment was also affected due to the slippage in US and European benzene markets on Tuesday, traders and producers said.

Otherwise, the benzene market in Asia was fairly steady amid strong demand from the downstream styrene monomer (SM), phenol and caprolactam sectors, they added.

($1 = €0.72)

To discuss issues facing the chemical industry go to ICIS connect

By: Mahua Chakravarty
+65 6780 4359

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