Asia benzene touches 11-month high on strong crude

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 Korea from the previous day's close, tracking the gains in benzene values.

($1 = €0.76)

For more on benzene, visit ICIS chemical intelligence
Please visit the complete ICIS plants and projects database
To discuss issues facing the chemical industry, go to
ICIS connect

By: Mahua Chakravarty
+65 6780 4359

AddThis Social Bookmark Button

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