14 January 2011 08:56 [Source: ICIS news]
Prices for March loading cargoes were hovering at $1,090-1,100/tonne FOB (free on board) Korea from Friday morning, the highest seen since 5 January 2010, and notching up its total gain this week to $35/tonne, according to ICIS.
Spot prices firmed on Friday with four transactions heard concluded for March loading at $1,100/tonne FOB
Friday's $15/tonne hike from 13 January's close was supported by the rise in US benzene values to $4.09-4.11/gal or $1,222-1,228/tonne FOB Barges late on Thursday.
The spike in US benzene values was partly due to supply tightness for prompt month cargoes, they added.
The price hike in the
The spread between US and Asian values was at $128-132/tonne on Friday, well above the $50/tonne freight charges Asian exporters need to ship benzene westbound.
“Its not driven by fundamentals, but by the
Asia is one of the largest exporters of benzene to the
($1 = €0.75)
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