Asia benzene jumps $30/tonne on price spikes in Europe market
27 January 2011 04:41 [Source: ICIS news]
SINGAPORE (ICIS)--A?xml:namespace>sian 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)
To discuss issues facing the chemical industry go to ICIS connectBy: 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.