23 December 2010 08:32 [Source: ICIS news]
SINGAPORE (ICIS)--Benzene values in Asia touched an 11-month high on Thursday, supported by buoyant energy futures and spikes in US benzene prices overnight, market players said.
Spot values were hovering at a range of $1,040-1,050/tonne (€790-798/tonne) FOB (free on board) Korea on Thursday, up $20/tonne from Wednesday's close and up $60/tonne from the same period last week .
These prices were the highest seen since 22 January 2010, according to ICIS data.
Crude futures were hovering at above $90/bbl on Thursday, while US benzene values were at $3.62-3.64/gal FOB Barges on Wednesday.
Firm prices in the downstream styrene monomer (SM) market were also aiding the strong benzene values, which have been on an uptrend this month, traders said.
Meanwhile, toluene prices in Asia also rose by $15-20/tonne on Thursday to $940-950/tonne FOB ?xml:namespace>
($1 = €0.76)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections