Asia benzene jumps $30/tonne on price spikes in Europe market

27 January 2011 04:41  [Source: ICIS news]

SINGAPORE (ICIS)--Asian spot benzene values jumped $30/tonne (€22/tonne) on Thursday morning, backed by a strong price rally in the European benzene market on Wednesday, traders said.

Prices touched a fresh 28-month high at $1,150-1,160/tonne FOB (free on board) Korea on Thursday morning, up $30/tonne from Wednesday’s close.

In early trade, bids for March loading were heard at $1,145-1,150/tonne FOB Korea, but sellers remained on the sidelines.

European benzene values for February climbed  $38-115/tonne on Wednesday to $1,300-1,385/tonne CIF (cost, insurance and freight) ARA, according to ICIS.

($1 = €0.73)

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By: Mahua Chakravarty
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